0001546417-24-000037 | 10-K | XBRL Viewer

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Revenue Recognition (Franchisee Deferred Payment Agreement) (Details) - Franchised units	Dec. 31, 2023 restaurant Restaurants
Disaggregation of Revenue [Line Items]
Number of restaurants \| restaurant	291
Outback Steakhouse \| U.S. segment \| Out West
Disaggregation of Revenue [Line Items]
Number of restaurants \| Restaurants	78

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill and Intangible Assets, Net (Intangible Assets - Table) (Details) - USD ($)

3 Months Ended

Jun. 25, 2023

Jun. 26, 2022

Jun. 27, 2021

Dec. 31, 2023

Dec. 25, 2022

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, accumulated amortization

$ (90,189,000)

$ (82,944,000)

Intangible assets, gross (excluding goodwill)

533,174,000

531,270,000

Intangible assets, net (excluding goodwill)

$ 442,985,000

448,326,000

Impairment of Intangible Assets (Excluding Goodwill)

$ 0

Impairment of Intangible Assets, Finite-Lived

$ 0

Weighted average

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, remaining amortization period

6 years

Trademarks

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, gross

$ 81,952,000

81,952,000

Finite-lived intangible assets, accumulated amortization

(63,752,000)

(59,675,000)

Finite-lived intangible assets, net

$ 18,200,000

22,277,000

Trademarks | Weighted average

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, remaining amortization period

5 years

Reacquired franchise rights

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, gross

^[1]

$ 36,506,000

34,602,000

Finite-lived intangible assets, accumulated amortization

^[1]

(26,437,000)

(23,269,000)

Finite-lived intangible assets, net

^[1]

$ 10,069,000

11,333,000

Reacquired franchise rights | Weighted average

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Finite-lived intangible assets, remaining amortization period

8 years

Trade names

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]

Indefinite-lived trade names

$ 414,716,000

[1]	Included within Outback Steakhouse - Brazil.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of income before income tax, domestic and foreign

The following table presents the domestic and foreign components of Income before provision for income taxes for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Domestic	$	235,357	$	134,465	$	258,202
Foreign	37,618		17,442		(8,905)
Income before provision for income taxes	$	272,975	$	151,907	$	249,297

Schedule of components of income tax expense

Provision for income taxes consisted of the following for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Current provision (benefit):
Federal	$	17,514	$	13,026	$	16,951
State	10,788		10,576		10,917
Foreign	(1,918)		5,354		1,862
	26,384		28,956		29,730
Deferred (benefit) provision:
Federal	(2,787)		5,172		(2,057)
State	944		3,470		1,194
Foreign	(5,980)		5,106		(2,483)
	(7,823)		13,748		(3,346)
Provision for income taxes	$	18,561	$	42,704	$	26,384

Schedule of effective income tax rate reconciliation

The reconciliation of income taxes calculated at the United States federal tax statutory rate to the Company’s effective income tax rate is as follows for the periods indicated:


	FISCAL YEAR
	2023		2022		2021
Income taxes at federal statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal benefit	3.4		7.3		3.8
Employment-related credits, net	(13.5)		(22.4)		(13.2)
Brazil tax legislation	(7.7)		0.2		—
Income tax exemption on certain Brazil state value added tax benefits	(1.8)		—		—
Net changes in deferred tax valuation allowances	(0.8)		(2.8)		(0.7)
Non-deductible loss on 2025 Notes Partial Repurchase	—		18.0		—
Non-deductible expenses	2.7		2.8		2.3
Foreign tax rate differential	2.1		2.3		(0.2)
U.S. tax on foreign earnings - GILTI	1.8		1.6		—
Tax settlements and related adjustments	0.1		(0.1)		(1.7)
Other, net	(0.5)		0.2		(0.7)








Total	6.8	%	28.1	%	10.6	%

Schedule of deferred tax assets and liabilities

The income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and liabilities are as follows as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Deferred income tax assets:
Operating lease liabilities	$	339,783	$	346,482

Insurance reserves	14,184		15,695
Unearned revenue	55,746		52,366
Deferred compensation	12,210		14,726

Net operating loss carryforwards	12,729		14,277
Federal tax credit carryforwards	177,775		165,411

Other, net (1)	14,334		12,248
Gross deferred income tax assets	626,761		621,205
Less: valuation allowance	(10,583)		(12,664)
Deferred income tax assets, net of valuation allowance	616,178		608,541
Deferred income tax liabilities:
Less: operating lease right-of-use asset basis differences	(277,376)		(284,701)
Less: property, fixtures and equipment basis differences	(66,370)		(63,344)
Less: intangible asset basis differences	(113,027)		(109,162)

Deferred income tax assets, net	$	159,405	$	151,334

Reported as:
Deferred income tax assets	$	159,405	$	153,118
Deferred income tax liabilities (included in Other long-term liabilities, net)	—		(1,784)
Net deferred tax assets	$	159,405	$	151,334

________________

(1)As of December 31, 2023 and December 25, 2022, the Company maintained deferred tax liabilities for state income taxes on historical foreign earnings of $0.5 million and $0.3 million, respectively.

Summary of operating loss

The amount and expiration dates of tax loss carryforwards and credit carryforwards as of December 31, 2023 are as follows:


(dollars in thousands)	EXPIRATION DATE			AMOUNT
Federal tax credit carryforwards	2026	-	2043	$	190,169
Foreign loss carryforwards	2024	-	Indefinite	$	55,794
Foreign credit carryforwards	Indefinite			$	864

Summary of credit carryforwards

The amount and expiration dates of tax loss carryforwards and credit carryforwards as of December 31, 2023 are as follows:


(dollars in thousands)	EXPIRATION DATE			AMOUNT
Federal tax credit carryforwards	2026	-	2043	$	190,169
Foreign loss carryforwards	2024	-	Indefinite	$	55,794
Foreign credit carryforwards	Indefinite			$	864

Schedule of unrecognized tax benefits roll forward

The following table summarizes the activity related to the Company’s unrecognized tax benefits for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	18,258	$	19,238	$	25,524
Additions for tax positions taken during a prior period	42		114		166
Reductions for tax positions taken during a prior period	(601)		(401)		(4,209)
Additions for tax positions taken during the current period	1,507		1,100		1,292

Settlements with taxing authorities	—		(375)		(2,674)
Lapses in the applicable statutes of limitations	(2,037)		(1,424)		(854)
Translation adjustments	3		6		(7)
Balance, end of the period	$	17,172	$	18,258	$	19,238

Summary of open audit years by jurisdiction

Following is a summary of the open audit years by jurisdiction as of December 31, 2023:


	OPEN AUDIT YEARS
United States - federal	2007	-	2022
United States - state	2009	-	2022
Foreign	2015	-	2022

Revenue Recognition

12 Months Ended

Dec. 31, 2023

Revenue Recognition and Deferred Revenue [Abstract]

Revenue Recognition

The following table includes the disaggregation of Restaurant sales and franchise revenues by restaurant concept and major international market for the periods indicated:


	FISCAL YEAR
	2023				2022				2021
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUES		RESTAURANT SALES		FRANCHISE REVENUES		RESTAURANT SALES		FRANCHISE REVENUES
U.S.
Outback Steakhouse	$	2,316,449	$	32,289	$	2,240,432	$	31,418	$	2,175,909	$	29,725
Carrabba’s Italian Grill	721,946		3,036		676,467		2,938		653,231		2,439
Bonefish Grill	570,578		505		559,583		662		544,068		641
Fleming’s Prime Steakhouse & Wine Bar	382,729		—		374,388		—		332,607		—
Other	13,351		78		12,146		49		9,033		9
U.S. total	4,005,053		35,908		3,863,016		35,067		3,714,848		32,814
International
Outback Steakhouse - Brazil (1)	501,128		—		405,866		—		258,997		—
Other (1)(2)	101,227		15,163		83,813		14,620		87,248		12,706
International total	602,355		15,163		489,679		14,620		346,245		12,706
Total	$	4,607,408	$	51,071	$	4,352,695	$	49,687	$	4,061,093	$	45,520

____________________

(1)Restaurant sales in Brazil includes $30.2 million and $7.7 million during 2023 and 2022, respectively, in connection with value added tax exemptions resulting from tax legislation. See Note 20 - Income Taxes for details regarding the Brazil tax legislation.

(2)Includes Restaurant sales for Company-owned Outback Steakhouse restaurants outside of Brazil and Abbraccio restaurants in Brazil. Franchise revenues primarily include revenues from franchised Outback Steakhouse restaurants.

The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Other current assets, net
Deferred gift card sales commissions	$	18,081	$	17,755

Unearned revenue
Deferred gift card revenue	$	374,274	$	386,495
Deferred loyalty revenue	5,664		5,628
Deferred franchise fees - current	473		460
Other	1,466		1,632
Total Unearned revenue	$	381,877	$	394,215

Other long-term liabilities, net
Deferred franchise fees - non-current	$	4,036	$	4,126

The following table is a rollforward of deferred gift card sales commissions for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	17,755	$	17,793	$	19,300
Deferred gift card sales commissions amortization	(23,695)		(24,091)		(26,012)
Deferred gift card sales commissions capitalization	26,706		26,743		26,625
Other	(2,685)		(2,690)		(2,120)
Balance, end of the period	$	18,081	$	17,755	$	17,793

The following table is a rollforward of unearned gift card revenue for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	386,495	$	387,945	$	373,048
Gift card sales	328,307		326,603		330,841
Gift card redemptions	(321,057)		(310,017)		(298,397)
Gift card breakage	(19,471)		(18,036)		(17,547)
Balance, end of the period	$	374,274	$	386,495	$	387,945

Franchisee Deferred Payment Agreement - Effective December 31, 2023, the Company entered into an Amended & Restated Holistic Resolution Agreement (the “2023 Resolution Agreement”) with Cerca Trova Southwest Restaurant Group, LLC (d/b/a Out West Restaurant Group) and certain of its affiliates (collectively, “Out West”), who currently operate 78 franchised Outback Steakhouse restaurants in the western United States, primarily in California. The 2023 Resolution Agreement ends on December 27, 2026 or upon the earlier occurrence of certain specified events, including the sale of all or substantially all of the assets or equity of Out West, bankruptcy or a liquidation event. The 2023 Resolution Agreement amends and supersedes the original Holistic Resolution Agreement dated December 27, 2020 (the “Original Resolution Agreement”). The terms of the 2023 Resolution Agreement are materially consistent with the Original Resolution Agreement and include similar agreements between Out West and its lenders prioritizing rents, royalties, national advertising fees and local marketing expenditures, and provides a mechanism to settle its obligations with its lenders and provide for capital expenditures, within certain limitations.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The 2023 Swap Transactions have an aggregate notional amount of $200.0 million and include one and two-year tenors with the following terms:


NOTIONAL AMOUNT		WEIGHTED AVERAGE FIXED INTEREST RATE (1)	EFFECTIVE DATE	TERMINATION DATE
$	100,000,000	4.92%	December 29, 2023	December 31, 2024
$	100,000,000	4.34%	December 29, 2023	December 31, 2025

____________________

(1)The weighted averaged fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value and classification of the Company’s swap agreements as of the period indicated:


(dollars in thousands)	DECEMBER 31, 2023		CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - asset (1)	$	320	Other current assets, net



Interest rate swaps - liability	$	253	Accrued and other current liabilities
Interest rate swaps - liability	893		Other long-term liabilities, net
Total fair value of derivative instruments - liability (1)	$	1,146

____________________

(1) See Note 18 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Schedule of derivatives instruments statements of financial performance and financial position, location

The following table summarizes the effects of the swap agreements on Net income for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2022		2021
Interest rate swap agreements:
Interest rate swap expense recognized in Interest expense, net	$	(1,284)	$	(9,951)
Income tax benefit recognized in Provision for income taxes	330		2,559
Net effects of interest rate swap agreements	$	(954)	$	(7,392)
Terminated interest rate swap agreements:
Terminated interest rate swap expense recognized in Interest expense, net	$	(12,115)	$	(6,160)
Income tax benefit recognized in Provision for income taxes	3,133		1,584
Net effects of terminated interest rate swap agreements	$	(8,982)	$	(4,576)
Total net effects on Net income	$	(9,936)	$	(11,968)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Goodwill and Intangible Assets, Net (Amortization Expense - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 5,984	$ 6,172	$ 6,005

Stock-based and Deferred Compensation Plans (Remaining Shares Available for SBC) (Details)	Dec. 31, 2023 shares
2020 Omnibus Incentive Compensation Plan \| Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant	6,925,256

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:


	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)	TOTAL		LEVEL 1		LEVEL 2		TOTAL		LEVEL 1
Assets:
Cash equivalents:
Fixed income funds	$	12,837	$	12,837	$	—	$	3,301	$	3,301
Money market funds	11,083		11,083		—		4,786		4,786
Restricted cash equivalents:

Money market funds	2,854		2,854		—		—		—
Other current assets, net:
Derivative instruments - interest rate swaps	320		—		320		—		—


Total asset recurring fair value measurements	$	27,094	$	26,774	$	320	$	8,087	$	8,087

Liabilities:
Accrued and other current liabilities:
Derivative instruments - interest rate swaps	$	253	$	—	$	253	$	—	$	—


Other long-term liabilities:
Derivative instruments - interest rate swaps	893		—		893		—		—
Total liability recurring fair value measurements	$	1,146	$	—	$	1,146	$	—	$	—

Fair value, assets measured on recurring basis, methods and assumptions

Fair value of each class of financial instruments is determined based on the following:


FINANCIAL INSTRUMENT						METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds						Carrying value approximates fair value because maturities are less than three months.
Derivative instruments						The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considered its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of December 31, 2023, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

Fair value assets measured on a nonrecurring basis

The following table summarizes the Company’s assets measured at fair value by hierarchy level on a nonrecurring basis for the periods indicated:


	2023				2022				2021
(dollars in thousands)	REMAINING CARRYING VALUE		TOTAL IMPAIRMENT		REMAINING CARRYING VALUE		TOTAL IMPAIRMENT		REMAINING CARRYING VALUE		TOTAL IMPAIRMENT

Operating lease right-of-use assets (1)	$	4,057	$	10,210	$	2,219	$	1,233	$	8,647	$	3,950
Property, fixtures and equipment (2)	4,623		30,202		2,807		4,253		11,647		8,445
Goodwill and other assets (3)	—		—		—		—		—		1,006
	$	8,680	$	40,412	$	5,026	$	5,486	$	20,294	$	13,401

________________

(1)Carrying values measured using discounted cash flow models (Level 3). Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments.

(2)Carrying values measured using Level 2 inputs to estimate fair value totaled $1.2 million and $1.4 million for 2023 and 2021, respectively. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate the fair value. Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments.

(3)Other assets were generally measured using the quoted market value of comparable assets (Level 2).

Schedule of carrying value and fair value of debt

The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022
	CARRYING VALUE		FAIR VALUE LEVEL 2			CARRYING VALUE		FAIR VALUE LEVEL 2
(dollars in thousands)

Senior secured credit facility - revolving credit facility	$	381,000	$	381,000		$	430,000	$	430,000



2025 Notes	$	104,786	$	265,896		$	105,000	$	198,843
2029 Notes	$	300,000	$	277,809		$	300,000	$	260,265

Leases (Other Information) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 197,394	$ 193,822	$ 205,253

Stock-based and Deferred Compensation Plans (Restricted Stock Activity) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Dec. 29, 2023

Dec. 23, 2022

Common stock

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share price applicable to outstanding share-based compensation

$ 28.15

$ 20.96

Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]

Outstanding as of December 25, 2022 (shares)

657

Granted (shares)

406

Vested (shares)

(393)

Forfeited (shares)

(39)

Outstanding as of December 31, 2023 (shares)

631

^[1]

657

Expected to vest as of December 31, 2023

631

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Outstanding as of December 25, 2022 (per share)

$ 21.72

Granted (per share)

^[2]

24.18

$ 21.59

$ 25.93

Vested (per share)

21.02

Forfeited (per share)

24.15

Outstanding as of December 31, 2023 (per share)

23.58

^[3]

$ 21.72

Expected to vest as of December 31, 2023, weighted average grant date fair value

^[3]

$ 23.58

Aggregate intrinsic value as of December 31, 2023

^[4]

$ 17,757

^[1]

$ 13,776

Aggregate intrinsic value, expected to vest as of December 31, 2023

^[1],[4]

$ 17,757

[1]	All RSUs outstanding as of December 31, 2023 are expected to vest.
[2]	The weighted average dividend yield was 3.63% and 2.43% for 2023 and 2022, respectively. There were no dividends in 2021.
[3]	All RSUs outstanding as of December 31, 2023 are expected to vest.
[4]	Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

Income Taxes (Tax Carryforwards - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Income Tax Contingency [Line Items]
Federal tax credit carryforwards	$ 177,775	$ 165,411
Foreign loss carryforwards	55,794
Foreign credit carryforwards	864
Internal Revenue Service (IRS)
Income Tax Contingency [Line Items]
Federal tax credit carryforwards	190,169
General business tax credit carryforwards	$ 188,300
Internal Revenue Service (IRS) \| Maximum
Income Tax Contingency [Line Items]
General business tax credits, estimated period of use	10 years

Property, Fixtures and Equipment, Net (Depreciation and Repairs - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 185,187	$ 163,445	$ 157,386
Repair and maintenance expense	$ 125,492	$ 116,318	$ 104,209

Revenue Recognition (Contract Assets and Liabilities Summary) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2020
Revenue Recognition [Line Items]
Deferred gift card sales commissions	$ 18,081	$ 17,755	$ 17,793	$ 19,300
Unearned revenue	381,877	394,215
Deferred gift card revenue
Revenue Recognition [Line Items]
Unearned revenue	374,274	386,495	$ 387,945	$ 373,048
Other current assets, net
Revenue Recognition [Line Items]
Deferred gift card sales commissions	18,081	17,755
Unearned revenue
Revenue Recognition [Line Items]
Unearned revenue	381,877	394,215
Unearned revenue \| Deferred gift card revenue
Revenue Recognition [Line Items]
Unearned revenue	374,274	386,495
Unearned revenue \| Deferred loyalty revenue
Revenue Recognition [Line Items]
Unearned revenue	5,664	5,628
Unearned revenue \| Deferred franchise fees
Revenue Recognition [Line Items]
Unearned revenue	473	460
Unearned revenue \| Other
Revenue Recognition [Line Items]
Unearned revenue	1,466	1,632
Other long-term liabilities, net \| Deferred franchise fees
Revenue Recognition [Line Items]
Deferred franchise fees, noncurrent	$ 4,036	$ 4,126

Income Taxes (Valuation Allowance - Text) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	$ 10,583	$ 12,664
U.S. segment
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	400
International segment
Income Taxes [Line Items]
Deferred tax assets, valuation allowance	$ 10,200

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Interest Rate Risk - The Company manages economic risks, including interest rate variability, primarily by managing the amount, sources and duration of its debt funding and through the use of derivative financial instruments. The Company’s objectives in using interest rate derivatives are to manage its exposure to interest rate movements. To accomplish this objective, the Company uses interest rate swaps.

Designated Hedges

Cash Flow Hedges of Interest Rate Risk - In October 2018, the Company entered into variable-to-fixed interest rate swap agreements with 12 counterparties to hedge a portion of the cash flows of the Company’s variable rate debt (the “2018 Swap Agreements”). The 2018 Swap Agreements had an aggregate notional amount of $550.0 million and matured on November 30, 2022. Under the terms of the 2018 Swap Agreements, the Company paid a weighted average fixed rate of 3.04% on the notional amount and received payments from the counterparties based on the one-month LIBOR rate.

During 2021 and 2022, Company terminated its 2018 Swap Agreements for aggregate payments of approximately $18.3 million, excluding accrued interest. Following these terminations, unrealized losses related to the terminated swap agreements included in AOCL were amortized on a straight-line basis to Interest expense, net over the remaining original term of the terminated swaps.

On December 5, 2023, OSI entered into six interest rate swap agreements with five counterparties (the “2023 Swap Transactions”) to manage its exposure to fluctuations in variable interest rates. The 2023 Swap Transactions have an aggregate notional amount of $200.0 million and include one and two-year tenors with the following terms:


NOTIONAL AMOUNT		WEIGHTED AVERAGE FIXED INTEREST RATE (1)	EFFECTIVE DATE	TERMINATION DATE
$	100,000,000	4.92%	December 29, 2023	December 31, 2024
$	100,000,000	4.34%	December 29, 2023	December 31, 2025

____________________

(1)The weighted averaged fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.

In connection with the 2023 Swap Transactions, the Company effectively converted $200 million of its outstanding indebtedness from the SOFR, plus a term SOFR adjustment of 0.10% and a spread of 150 to 250 basis points to the weighted average fixed interest rates within the table above, plus a term SOFR adjustment of 0.10% and a spread of 150 to 250 basis points. The 2023 Swap Transactions have an embedded floor of minus 0.10%.

The 2023 Swap Transactions were designated and qualified as cash flow hedges, recognized on the Company’s Consolidated Balance Sheet at fair value as of December 31, 2023 and classified based on the instruments’ maturity dates. As of December 31, 2023, the Company estimated $0.1 million of interest income will be reclassified to Interest expense, net over the next 12 months related to the 2023 Swap Transactions.

The following table presents the fair value and classification of the Company’s swap agreements as of the period indicated:


(dollars in thousands)	DECEMBER 31, 2023		CONSOLIDATED BALANCE SHEET CLASSIFICATION
Interest rate swaps - asset (1)	$	320	Other current assets, net



Interest rate swaps - liability	$	253	Accrued and other current liabilities
Interest rate swaps - liability	893		Other long-term liabilities, net
Total fair value of derivative instruments - liability (1)	$	1,146

____________________

(1) See Note 18 - Fair Value Measurements for fair value discussion of the interest rate swaps.

The Company’s interest rate swaps are subject to master netting arrangements. As of December 31, 2023, the Company elected not to offset derivative positions in the balance sheet with the same counterparty under the same agreement.

The following table summarizes the effects of the swap agreements on Net income for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2022		2021
Interest rate swap agreements:
Interest rate swap expense recognized in Interest expense, net	$	(1,284)	$	(9,951)
Income tax benefit recognized in Provision for income taxes	330		2,559
Net effects of interest rate swap agreements	$	(954)	$	(7,392)
Terminated interest rate swap agreements:
Terminated interest rate swap expense recognized in Interest expense, net	$	(12,115)	$	(6,160)
Income tax benefit recognized in Provision for income taxes	3,133		1,584
Net effects of terminated interest rate swap agreements	$	(8,982)	$	(4,576)
Total net effects on Net income	$	(9,936)	$	(11,968)

By utilizing the interest rate swaps, the Company was exposed to credit-related losses in the event that the counterparty failed to perform under the terms of the derivative contract. To mitigate this risk, the Company entered into derivative contracts with major financial institutions based upon credit ratings and other factors. The Company continually assessed the creditworthiness of its counterparties. As of December 31, 2023, all counterparties to the interest rate swaps performed in accordance with their contractual obligations.

The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if the repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on indebtedness.

As of December 31, 2023, the fair value of the Company’s interest rate swaps was in a net liability position, including accrued interest but excluding any adjustment for nonperformance risk, of $0.8 million. As of December 31, 2023, the Company has not posted any collateral related to these agreements. If the Company had breached any of these provisions as of December 31, 2023, it could have been required to settle its obligations under the agreements at their termination value of $0.8 million.

Allowance for Expected Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Credit Loss [Abstract]
Allowance for expected credit losses, beginning of the period	$ 5,451	$ 4,050	$ 4,095
Provision for expected credit losses	0	1,547	64
Charge-off of accounts	(147)	(146)	(109)
Allowance for expected credit losses, end of the period	$ 5,304	$ 5,451	$ 4,050

Summary of Significant Accounting Policies (Property, Fixtures and Equipment) (Details) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Property, Plant and Equipment [Line Items]

Capitalized internal costs for construction in progress

$ 5.4

$ 4.1

$ 3.7

Capitalized computer equipment and software, additions

12.4

9.2

Property, fixtures and equipment, net

Property, Plant and Equipment [Line Items]

Capitalized computer equipment and software, net

$ 14.3

$ 10.1

Buildings | Minimum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

^[1]

5 years

Buildings | Maximum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

^[1]

30 years

Furniture and fixtures | Minimum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

5 years

Furniture and fixtures | Maximum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

7 years

Equipment | Minimum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

2 years

Equipment | Maximum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

7 years

Computer equipment and software | Minimum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

2 years

Computer equipment and software | Maximum

Property, Plant and Equipment [Line Items]

Property, plant and equipment, useful life

7 years

[1]	Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Revenue Recognition (Disaggregated Revenue) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

$ 4,671,470

$ 4,416,508

$ 4,122,385

International segment | Brazil

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

^[1]

529,670

448,411

297,167

Restaurant sales

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

4,607,408

4,352,695

4,061,093

Restaurant sales | U.S. segment

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

4,005,053

3,863,016

3,714,848

Restaurant sales | International segment

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

602,355

489,679

346,245

Restaurant sales | International segment | Brazil tax legislation [Member] | Brazil

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

30,200

7,700

Restaurant sales | Outback Steakhouse

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

2,316,449

2,240,432

2,175,909

Restaurant sales | Carrabba's Italian Grill

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

721,946

676,467

653,231

Restaurant sales | Bonefish Grill

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

570,578

559,583

544,068

Restaurant sales | Fleming's Prime Steakhouse & Wine Bar

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

382,729

374,388

332,607

Restaurant sales | Other - U.S.

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

13,351

12,146

9,033

Restaurant sales | Outback Steakhouse - Brazil

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

501,128

^[2]

405,866

^[2]

258,997

Restaurant sales | Other - International

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

^[3]

101,227

^[2]

83,813

^[2]

87,248

Franchise revenues

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

51,071

49,687

45,520

Franchise revenues | U.S. segment

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

35,908

35,067

32,814

Franchise revenues | International segment

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

15,163

14,620

12,706

Franchise revenues | Outback Steakhouse

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

32,289

31,418

29,725

Franchise revenues | Carrabba's Italian Grill

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

3,036

2,938

2,439

Franchise revenues | Bonefish Grill

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

505

662

641

Franchise revenues | Fleming's Prime Steakhouse & Wine Bar

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

Franchise revenues | Other - U.S.

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

Franchise revenues | Outback Steakhouse - Brazil

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

Franchise revenues | Other - International

Disaggregation of Revenue [Line Items]

Restaurant sales, franchise and other revenues

^[3]

$ 15,163

$ 14,620

$ 12,706

[1]	International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S.
[2]	Restaurant sales in Brazil includes $30.2 million and $7.7 million during 2023 and 2022, respectively, in connection with value added tax exemptions resulting from tax legislation. See Note 20 - Income Taxes for details regarding the Brazil tax legislation.
[3]	Includes Restaurant sales for Company-owned Outback Steakhouse restaurants outside of Brazil and Abbraccio restaurants in Brazil. Franchise revenues primarily include revenues from franchised Outback Steakhouse restaurants.

Property, Fixtures and Equipment, Net (PFE - Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (1,707,731)	$ (1,617,611)
Property, fixtures and equipment, net	1,031,922	914,142
Land
Property, Plant and Equipment [Line Items]
Property, fixtures and equipment, gross	34,654	37,596
Buildings
Property, Plant and Equipment [Line Items]
Property, fixtures and equipment, gross	1,269,214	1,223,403
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, fixtures and equipment, gross	526,192	489,895
Equipment
Property, Plant and Equipment [Line Items]
Property, fixtures and equipment, gross	830,644	739,136
Construction in progress
Property, Plant and Equipment [Line Items]
Property, fixtures and equipment, gross	$ 78,949	$ 41,723

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

The following is a summary of reporting segments:

REPORTABLE SEGMENT (1)

CONCEPT

GEOGRAPHIC LOCATION

U.S.

Outback Steakhouse

United States of America

Carrabba’s Italian Grill

Bonefish Grill

Fleming’s Prime Steakhouse & Wine Bar

International

Outback Steakhouse

Brazil, Hong Kong/China

Carrabba’s Italian Grill (Abbraccio)

Brazil

_________________

(1)Includes franchise locations.

Schedule of revenues, by geographic area

The following table details Total revenues by segment and major geographic area for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
U.S.	$	4,053,599	$	3,911,870	$	3,759,981
International (1)
Brazil	529,670		448,411		297,167
Other	88,201		56,227		65,237
Total revenues	$	4,671,470	$	4,416,508	$	4,122,385

_________________

(1)International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S.

Reconciliation of segment depreciation and amortization and capital expenditures

The following table is a summary of Depreciation and amortization expense by segment for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Depreciation and amortization
U.S.	$	157,878	$	139,170	$	134,243
International	25,430		23,397		22,649
Corporate	7,863		7,050		6,499
Total depreciation and amortization	$	191,171	$	169,617	$	163,391

The following table is a summary of capital expenditures by segment for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Capital expenditures
U.S.	$	276,660	$	196,163	$	103,303
International	45,542		28,647		14,074
Corporate	11,961		11,709		9,035
Total capital expenditures	$	334,163	$	236,519	$	126,412

Reconciliation of operating profit from segments to consolidated

The following table is a reconciliation of segment income from operations to Income before provision for income taxes for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Segment income from operations
U.S.	$	377,534	$	407,860	$	443,887
International	83,948		57,333		16,657
Total segment income from operations	461,482		465,193		460,544
Unallocated corporate operating expense	(136,338)		(134,772)		(151,586)
Total income from operations	325,144		330,421		308,958
Loss on extinguishment and modification of debt	—		(107,630)		(2,073)
Loss on fair value adjustment of derivatives, net	—		(17,685)		—

Interest expense, net	(52,169)		(53,199)		(57,588)
Income before provision for income taxes	$	272,975	$	151,907	$	249,297

Schedule of segment total assets

The following table sets forth Total assets by segment as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Assets
U.S.	$	2,703,751	$	2,669,953
International	457,692		400,052
Corporate	262,638		250,420
Total assets	$	3,424,081	$	3,320,425

Schedule of long-lived assets, by geographic area

The following table details long-lived assets, excluding goodwill, operating lease right-of-use assets, intangible assets and deferred tax assets, by major geographic area as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
U.S.	$	980,731	$	891,379
International
Brazil	128,854		93,972
Other	7,524		10,938
Total long-lived assets	$	1,117,109	$	996,289

Reconciliation of revenue from segments to consolidated

The following table details Total revenues by segment and major geographic area for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
U.S.	$	4,053,599	$	3,911,870	$	3,759,981
International (1)
Brazil	529,670		448,411		297,167
Other	88,201		56,227		65,237
Total revenues	$	4,671,470	$	4,416,508	$	4,122,385

_________________

(1)International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S.

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor firm ID	238
Auditor name	PricewaterhouseCoopers LLP
Auditor location	Tampa, Florida

Stockholders' Equity (AOCL - Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Accumulated other comprehensive income [Line Items]
Accumulated other comprehensive loss	$ (178,304)	$ (185,311)
Foreign currency translation adjustment
Accumulated other comprehensive income [Line Items]
Accumulated other comprehensive loss	(177,689)	(185,311)
Unrealized loss on derivatives, net of tax
Accumulated other comprehensive income [Line Items]
Accumulated other comprehensive loss	$ (615)	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Commitments and Contingencies (Litigation and Other Matters - Text) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Litigation settlement expense	$ (0.2)	$ 9.4	$ 5.4
Litigation liability	$ 13.3	$ 15.1

Summary of Significant Accounting Policies (Insurance Reserves) (Details) - Workers' compensation and general liability	12 Months Ended
	Dec. 31, 2023
Minimum
Insurance [Line Items]
Insurance, annual risk free rate, period	1 year
Maximum
Insurance [Line Items]
Insurance, annual risk free rate, period	5 years

Property, Fixtures and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of property, fixtures and equipment, net

Estimated useful lives by major asset category are generally as follows:


Buildings (1)			5 to 30 years
Furniture and fixtures			5 to 7 years
Equipment			2 to 7 years

Computer equipment and software			2 to 7 years

____________________

(1)Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Land	$	34,654	$	37,596
Buildings	1,269,214		1,223,403
Furniture and fixtures	526,192		489,895
Equipment	830,644		739,136
Construction in progress	78,949		41,723
Less: accumulated depreciation	(1,707,731)		(1,617,611)
	$	1,031,922	$	914,142

Schedule of other operating cost and expense, depreciation and repairs and maintenance expense

Depreciation and repair and maintenance expense are as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Depreciation expense	$	185,187	$	163,445	$	157,386
Repair and maintenance expense	$	125,492	$	116,318	$	104,209

Stock-based and Deferred Compensation Plans (Monte Carlo Simulation Model - Table) (Details) - Performance-based share units - $ / shares

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Risk-free interest rate

^[1]

4.26%

1.64%

0.20%

Dividend yield

^[2]

3.47%

2.31%

0.00%

Volatility

^[3]

51.02%

49.11%

48.45%

Grant date fair value per unit (in USD per share)

^[4]

$ 29.01

$ 26.10

$ 29.73

Share-based compensation arrangement by share-based payment award, stock price premium, percentage

2.70%

7.90%

14.30%

[1]	Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit.
[2]	Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term.
[3]	Based on the historical volatility of the Company’s stock over the last seven years.
[4]	Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7%, 7.9% and 14.3% for grants during 2023, 2022 and 2021, respectively.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Summary of Significant Accounting Policies (Basis of Presentation) (Details)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Reporting lag for Brazil operations in financial statements	1 month

Impairments and Exit Costs (Tables)

12 Months Ended

Dec. 31, 2023

Impairments and Exit Costs [Abstract]

Provision for impaired assets and restaurant closings

The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Impairment losses
U.S.	$	39,812	$	3,942	$	11,945
International	600		1,537		1,186
Corporate	—		7		270
Total impairment losses	40,412		5,486		13,401
Restaurant closure (benefit) charges
U.S.	(7,143)		478		422
International	305		—		(86)
Total restaurant closure (benefit) charges	(6,838)		478		336
Provision for impaired assets and restaurant closings	$	33,574	$	5,964	$	13,737

Restructuring and related costs

Following is a summary of the 2023 Closure Initiative charges recognized in the Consolidated Statements of Operations and Comprehensive Income for the periods indicated (dollars in thousands):

DESCRIPTION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION

FOURTEEN WEEKS AND FISCAL YEAR ENDED

DECEMBER 31, 2023

Property, fixtures and equipment impairments

Provision for impaired assets and restaurant closings

23,934

Lease right-of-use asset impairments and closure charges

Provision for impaired assets and restaurant closings

10,266

Severance and other expenses

General and administrative

622

Lease remeasurement gains

Other restaurant operating

(2,450)

32,372

Accrued facility closure and other costs rollforward

The following table is a rollforward of the Company’s closed facility lease-related liabilities and other accrued costs associated with closure and restructuring initiatives for the period indicated:


	FISCAL YEAR
(dollars in thousands)	2023
Balance, beginning of the period	$	5,476
Additions	3,340
Cash payments	(1,142)
Accretion	317
Adjustments	(1,737)
Balance, end of the period	$	6,254

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Assets and liabilities, lessee

The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	CONSOLIDATED BALANCE SHEET CLASSIFICATION	DECEMBER 31, 2023		DECEMBER 25, 2022
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,084,951	$	1,103,083
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	9,941		4,679


Total lease assets, net		$	1,094,892	$	1,107,762

Current operating lease liabilities	Current operating lease liabilities	$	175,442	$	183,510
Current finance lease liabilities	Accrued and other current liabilities	3,197		1,636
Non-current operating lease liabilities (2)	Non-current operating lease liabilities	1,131,639		1,148,379
Non-current finance lease liabilities	Other long-term liabilities, net	7,414		3,149
Total lease liabilities		$	1,317,692	$	1,336,674

________________

(1)Net of accumulated amortization of $4.7 million and $3.6 million as December 31, 2023 and December 25, 2022, respectively.

(2)For 2022, excludes immaterial COVID-19-related deferred rent accruals.

Lease, cost

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:


	CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION	FISCAL YEAR
(dollars in thousands)		2023		2022		2021
Operating lease cost (1)	Other restaurant operating	$	182,361	$	182,091	$	178,733
Variable lease cost (2)	Other restaurant operating	7,467		6,508		4,350
Finance lease costs:
Amortization of leased assets	Depreciation and amortization	2,252		1,420		1,079
Interest on lease liabilities	Interest expense, net	694		172		129
Sublease revenue	Franchise and other revenues	(7,665)		(9,016)		(9,396)
Lease costs, net		$	185,109	$	181,175	$	174,895

________________

(1)Excludes rent expense for office facilities and Company-owned closed or subleased properties of $12.3 million, $12.2 million and $12.9 million for 2023, 2022 and 2021, respectively, which is included in General and administrative expense. Also excludes certain immaterial supply chain related rent expense included in Food and beverage costs for 2021.

(2)Includes COVID-19-related rent abatements in 2021.

Lessee, operating lease, liability, maturity

As of December 31, 2023, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:


(dollars in thousands)	OPERATING LEASES		FINANCE LEASES		SUBLEASE REVENUES
2024 (1)	$	182,732	$	3,311	$	(5,893)
2025	185,309		1,859		(5,421)
2026	183,345		1,392		(5,356)
2027	174,157		1,275		(5,362)
2028	166,173		697		(5,416)
Thereafter	1,397,122		7,393		(33,888)
Total minimum lease payments (receipts) (2)	2,288,838		15,927		$	(61,336)
Less: Interest	(981,757)		(5,316)
Present value of future lease payments	$	1,307,081	$	10,611

____________________

(1)Net of operating lease prepaid rent of $15.2 million.

(2)Includes $945.4 million related to operating lease renewal options that are reasonably certain of exercise and excludes $216.7 million of signed operating leases that have not yet commenced.

Finance lease, liability, maturity

As of December 31, 2023, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:


(dollars in thousands)	OPERATING LEASES		FINANCE LEASES		SUBLEASE REVENUES
2024 (1)	$	182,732	$	3,311	$	(5,893)
2025	185,309		1,859		(5,421)
2026	183,345		1,392		(5,356)
2027	174,157		1,275		(5,362)
2028	166,173		697		(5,416)
Thereafter	1,397,122		7,393		(33,888)
Total minimum lease payments (receipts) (2)	2,288,838		15,927		$	(61,336)
Less: Interest	(981,757)		(5,316)
Present value of future lease payments	$	1,307,081	$	10,611

____________________

(1)Net of operating lease prepaid rent of $15.2 million.

(2)Includes $945.4 million related to operating lease renewal options that are reasonably certain of exercise and excludes $216.7 million of signed operating leases that have not yet commenced.

Lessee, weighted average remaining lease term and weighted average discount rate

The following table is a summary of the weighted average remaining lease terms and weighted average discount rates of the Company’s leases as of the periods indicated:


	DECEMBER 31, 2023		DECEMBER 25, 2022
Weighted average remaining lease term (1):
Operating leases	13.1 years		13.2 years
Finance leases	9.5 years		5.4 years
Weighted average discount rate (2):
Operating leases	8.50	%	8.44	%
Finance leases	8.11	%	6.63	%

____________________

(1)Includes lease renewal options that are reasonably certain of exercise.

(2)Based on the Company’s incremental borrowing rate at lease commencement or lease remeasurement.

Cash flow, operating activities, lessee

The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	197,394	$	193,822	$	205,253

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Cash dividends declared per common share (in USD per share)	$ 0.96	$ 0.56
Additional paid-in capital
Deferred tax effect of purchase of noncontrolling interests		$ 489
Retained earnings
Excise tax on share repurchases	$ 136

Other Long-term Liabilities, Net (Tables)

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other long-term liabilities, net

Other long-term liabilities, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Accrued insurance liability	$	26,616	$	28,133

Deferred compensation obligations	34,800		31,608

Other long-term liabilities	35,969		30,794
	$	97,385	$	90,535

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements on a Recurring Basis - The following table summarizes the Company’s financial assets and liabilities measured at fair value by hierarchy level on a recurring basis as of the periods indicated:


	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)	TOTAL		LEVEL 1		LEVEL 2		TOTAL		LEVEL 1
Assets:
Cash equivalents:
Fixed income funds	$	12,837	$	12,837	$	—	$	3,301	$	3,301
Money market funds	11,083		11,083		—		4,786		4,786
Restricted cash equivalents:

Money market funds	2,854		2,854		—		—		—
Other current assets, net:
Derivative instruments - interest rate swaps	320		—		320		—		—


Total asset recurring fair value measurements	$	27,094	$	26,774	$	320	$	8,087	$	8,087

Liabilities:
Accrued and other current liabilities:
Derivative instruments - interest rate swaps	$	253	$	—	$	253	$	—	$	—


Other long-term liabilities:
Derivative instruments - interest rate swaps	893		—		893		—		—
Total liability recurring fair value measurements	$	1,146	$	—	$	1,146	$	—	$	—

Fair value of each class of financial instruments is determined based on the following:


FINANCIAL INSTRUMENT						METHODS AND ASSUMPTIONS
Fixed income funds and Money market funds						Carrying value approximates fair value because maturities are less than three months.
Derivative instruments						The Company’s derivative instruments include interest rate swaps. Fair value measurements are based on the contractual terms of the derivatives and observable market-based inputs. The interest rate swaps are valued using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. The Company also considered its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. As of December 31, 2023, the Company determined that the credit valuation adjustments were not significant to the overall valuation of its derivatives.

Fair Value Measurements on a Nonrecurring Basis - Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to property, fixtures and equipment, operating lease right-of-use assets, goodwill and other intangible assets, which are remeasured when carrying value exceeds fair value. Carrying value after impairment approximates fair value. The following table summarizes the Company’s assets measured at fair value by hierarchy level on a nonrecurring basis for the periods indicated:


	2023				2022				2021
(dollars in thousands)	REMAINING CARRYING VALUE		TOTAL IMPAIRMENT		REMAINING CARRYING VALUE		TOTAL IMPAIRMENT		REMAINING CARRYING VALUE		TOTAL IMPAIRMENT

Operating lease right-of-use assets (1)	$	4,057	$	10,210	$	2,219	$	1,233	$	8,647	$	3,950
Property, fixtures and equipment (2)	4,623		30,202		2,807		4,253		11,647		8,445
Goodwill and other assets (3)	—		—		—		—		—		1,006
	$	8,680	$	40,412	$	5,026	$	5,486	$	20,294	$	13,401

________________

(1)Carrying values measured using discounted cash flow models (Level 3). Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments.

(3)Other assets were generally measured using the quoted market value of comparable assets (Level 2).

Fair Value of Financial Instruments - The Company’s non-derivative financial instruments consist of cash equivalents, accounts receivable, accounts payable and long-term debt. The fair values of cash equivalents, accounts receivable and accounts payable approximate their carrying amounts reported on its Consolidated Balance Sheets due to their short duration.

Debt is carried at amortized cost; however, the Company estimates the fair value of debt for disclosure purposes. The following table includes the carrying value and fair value of the Company’s debt by hierarchy level as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022
	CARRYING VALUE		FAIR VALUE LEVEL 2			CARRYING VALUE		FAIR VALUE LEVEL 2
(dollars in thousands)

Senior secured credit facility - revolving credit facility	$	381,000	$	381,000		$	430,000	$	430,000



2025 Notes	$	104,786	$	265,896		$	105,000	$	198,843
2029 Notes	$	300,000	$	277,809		$	300,000	$	260,265

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes (Deferred Tax Assets and Liabilities - Table) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Deferred income tax assets:

Operating lease liabilities

$ 339,783

$ 346,482

Insurance reserves

14,184

15,695

Unearned revenue

55,746

52,366

Deferred compensation

12,210

14,726

Net operating loss carryforwards

12,729

14,277

Federal tax credit carryforwards

177,775

165,411

Other, net

^[1]

14,334

12,248

Gross deferred income tax assets

626,761

621,205

Less: valuation allowance

(10,583)

(12,664)

Deferred income tax assets, net of valuation allowance

616,178

608,541

Deferred income tax liabilities:

Less: operating lease right-of-use asset basis differences

(277,376)

(284,701)

Less: property, fixtures and equipment basis differences

(66,370)

(63,344)

Less: intangible asset basis differences

(113,027)

(109,162)

Deferred income tax assets, net

159,405

151,334

Deferred income tax assets, net

159,405

153,118

Deferred income tax liabilities, net

(1,784)

Deferred tax liabilities, undistributed foreign earnings

$ 500

$ 300

[1]	As of December 31, 2023 and December 25, 2022, the Company maintained deferred tax liabilities for state income taxes on historical foreign earnings of $0.5 million and $0.3 million, respectively.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Cash flows provided by operating activities:
Net income	$ 254,414	$ 109,203	$ 222,913
Adjustments to reconcile Net income to cash provided by operating activities:
Depreciation and amortization	191,171	169,617	163,391
Amortization of debt discounts and issuance costs	3,115	3,538	4,494
Amortization of deferred gift card sales commissions	23,695	24,091	26,012
Provision for impaired assets and restaurant closings	33,574	5,964	13,737
Non-cash interest expense from terminated interest rate swaps	0	12,215	6,160
Non-cash operating lease costs	84,104	83,254	78,272
(Benefit) provision for expected credit losses and contingent lease liabilities	(864)	(1,117)	946
Stock-based compensation expense	11,911	16,514	24,405
Deferred income tax (benefit) expense	(7,823)	13,748	(3,346)
Loss on extinguishment and modification of debt	0	107,630	2,073
Loss on fair value adjustment of derivatives, net	0	17,685	0
Other, net	(2,933)	3,186	(1,879)
Change in assets and liabilities:
Decrease (increase) in inventories	2,361	1,036	(18,210)
Decrease (increase) in other current assets	9,572	(40,370)	(58,397)
Increase in other assets	(1,177)	(6,670)	(2,073)
Decrease in operating right-of-use assets, net	0	277	160
Increase (decrease) in accounts payable and accrued and other current liabilities	26,688	(40,679)	25,619
(Decrease) increase in unearned revenue	(12,401)	(4,638)	17,225
Decrease in operating lease liabilities	(93,576)	(82,540)	(90,387)
Increase (decrease) in other long-term liabilities	10,590	(1,022)	(8,660)
Net cash provided by operating activities	532,421	390,922	402,455
Cash flows used in investing activities:
Proceeds from disposal of property, fixtures and equipment	2,515	1,634	9,322
Proceeds received from company-owned life insurance	3,460	16,092	9,270
Capital expenditures	(324,255)	(219,691)	(122,830)
Other investments, net	1,174	827	(507)
Net cash used in investing activities	(317,106)	(201,138)	(104,745)
Cash flows used in financing activities:
Proceeds from issuance of long-term debt	0	0	200,000
Repayments of long-term debt and finance lease obligations	(1,862)	(196,447)	(431,166)
Proceeds from borrowings on revolving credit facilities	1,079,000	1,239,500	470,000
Repayments of borrowings on revolving credit facilities	(1,128,000)	(889,500)	(837,000)
Financing fees	0	(1,205)	(5,868)
Proceeds from issuance of senior notes	0	0	300,000
Issuance costs related to senior notes	0	0	(5,546)
Principal settlements and repurchase of convertible senior notes	(214)	(196,919)	0
Proceeds from retirement of convertible senior note hedges	0	131,869	0
Payments for retirement of warrants	0	(114,825)	0
Proceeds from share-based compensation, net	25,327	12,955	9,850
Distributions to noncontrolling interests	(8,684)	(9,127)	(9,123)
Contributions from noncontrolling interests	1,997	1,382	1,347
Purchase of noncontrolling interests	(100)	(5,004)	(3)
Payments for partner equity plan	0	(9,292)	(9,910)
Repurchase of common stock	(70,847)	(109,152)	0
Cash dividends paid on common stock	(83,742)	(49,736)	0
Net cash used in financing activities	(187,125)	(195,501)	(317,419)
Effect of exchange rate changes on cash and cash equivalents	1,448	1,395	(1,642)
Net increase (decrease) in cash, cash equivalents and restricted cash	29,638	(4,322)	(21,351)
Cash, cash equivalents and restricted cash as of the beginning of the period	84,735	89,057	110,408
Cash, cash equivalents and restricted cash as of the end of the period	114,373	84,735	89,057
Supplemental disclosures of cash flow information:
Cash paid for interest	50,931	39,126	47,036
Cash paid for income taxes, net of refunds	27,750	35,450	36,336
Supplemental disclosures of non-cash investing and financing activities:
Leased assets obtained in exchange for new operating lease liabilities	74,539	54,271	43,363
Leased assets obtained in exchange for new finance lease liabilities	6,480	4,066	1,238
Increase in liabilities from the acquisition of property, fixtures and equipment	$ 3,428	$ 12,762	$ 2,344

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 25, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value per share (in USD per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value per share (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	475,000,000	475,000,000
Common stock, shares issued (in shares)	86,968,536	87,696,200
Common stock, shares outstanding (in shares)	86,968,536	87,696,200

Stock-based and Deferred Compensation Plans (PSU Activity - Table) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 29, 2023

Dec. 23, 2022

Common stock

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share price applicable to outstanding share-based compensation

$ 28.15

$ 20.96

Performance-based share units

Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]

Outstanding as of December 25, 2022 (shares)

874

Granted (shares)

301

Performance adjustment (shares)

^[1]

154

Vested (shares)

(470)

Forfeited (shares)

(41)

Outstanding as of December 31, 2023 (shares)

818

874

Expected to vest as of December 31, 2023

^[2]

765

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Outstanding as of December 25, 2022 (per share)

$ 24.83

Granted (per share)

29.01

Performance adjustment (per share)

^[1]

19.84

Vested (per share)

19.84

Forfeited (per share)

26.48

Outstanding as of December 31, 2023 (per share)

$ 26.92

$ 24.83

Aggregate intrinsic value as of December 25, 2022

^[3]

$ 23,026

$ 18,323

Aggregate intrinsic value, expected to vest as of December 31, 2023

^[2],[3]

$ 21,410

Performance-based share units | 2020 PSU Grant

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]

Share-based compensation arrangement by share-based payment award, award vesting rights, percentage

148.00%

[1]	Represents adjustment to 148% payout for PSUs granted during 2020.
[2]	Estimated number of units to be issued upon the vesting of outstanding PSUs based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements.
[3]	Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

Income Taxes (Unrecognized Tax Benefits - Text) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Dec. 27, 2020
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 17,172	$ 18,258	$ 19,238	$ 25,524
Portion of unrecognized tax benefits, including accrued interest and penalties, that if recognized, would impact the effective tax rate	16,700	17,900
Unrecognized tax benefits, income tax penalties and interest accrued	500	800
Unrecognized tax benefits, increase resulting from prior period tax positions	42	$ 114	$ 166
Minimum
Income Tax Contingency [Line Items]
Unrecognized tax benefits, increase resulting from prior period tax positions	500
Maximum
Income Tax Contingency [Line Items]
Unrecognized tax benefits, increase resulting from prior period tax positions	$ 1,000

Convertible Senior Notes (Convertible Notes Hedge Transactions) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Nov. 29, 2023	May 08, 2020
Debt instrument [Line Items]
Proceeds from retirement of convertible senior note hedges	$ 0	$ 131,869	$ 0
Payments for repurchase of warrants	$ 0	114,825	$ 0
Retirement of convertible senior note hedges		(112,956)
Retirement of warrants		(97,617)
Additional paid-in capital
Debt instrument [Line Items]
Retirement of convertible senior note hedges		(112,956)
Retirement of warrants		(97,617)
Convertible debt \| 2025 Notes
Debt instrument [Line Items]
Class of warrant or right, exercise price of warrants or rights				$ 15.60	$ 16.64
Proceeds from retirement of convertible senior note hedges		131,900
Payments for repurchase of warrants		114,800
Convertible debt \| 2025 Notes \| Additional paid-in capital
Debt instrument [Line Items]
Retirement of convertible senior note hedges		113,000
Retirement of warrants		$ 97,600

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The following table presents the domestic and foreign components of Income before provision for income taxes for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Domestic	$	235,357	$	134,465	$	258,202
Foreign	37,618		17,442		(8,905)
Income before provision for income taxes	$	272,975	$	151,907	$	249,297

Provision for income taxes consisted of the following for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Current provision (benefit):
Federal	$	17,514	$	13,026	$	16,951
State	10,788		10,576		10,917
Foreign	(1,918)		5,354		1,862
	26,384		28,956		29,730
Deferred (benefit) provision:
Federal	(2,787)		5,172		(2,057)
State	944		3,470		1,194
Foreign	(5,980)		5,106		(2,483)
	(7,823)		13,748		(3,346)
Provision for income taxes	$	18,561	$	42,704	$	26,384

Effective Income Tax Rate - The reconciliation of income taxes calculated at the United States federal tax statutory rate to the Company’s effective income tax rate is as follows for the periods indicated:


	FISCAL YEAR
	2023		2022		2021
Income taxes at federal statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal benefit	3.4		7.3		3.8
Employment-related credits, net	(13.5)		(22.4)		(13.2)
Brazil tax legislation	(7.7)		0.2		—
Income tax exemption on certain Brazil state value added tax benefits	(1.8)		—		—
Net changes in deferred tax valuation allowances	(0.8)		(2.8)		(0.7)
Non-deductible loss on 2025 Notes Partial Repurchase	—		18.0		—
Non-deductible expenses	2.7		2.8		2.3
Foreign tax rate differential	2.1		2.3		(0.2)
U.S. tax on foreign earnings - GILTI	1.8		1.6		—
Tax settlements and related adjustments	0.1		(0.1)		(1.7)
Other, net	(0.5)		0.2		(0.7)








Total	6.8	%	28.1	%	10.6	%

The net decrease in the effective income tax rate in 2023 as compared to 2022 was primarily a result of the 2022 non-deductible losses associated with the 2025 Notes Partial Repurchase and the 2023 benefits of Brazil tax legislation, which includes a temporary reduction in the Brazilian income tax rate from 34% to 0%.

The net increase in the effective income tax rate in 2022 as compared to 2021 was primarily due to the non-deductible losses associated with the 2025 Notes Partial Repurchase recorded during 2022.

In the U.S., a restaurant company employer may claim a credit against its federal income taxes for FICA taxes paid on certain tipped wages (the “FICA tax credit”). The level of FICA tax credits is primarily driven by U.S. Restaurant sales and is not impacted by costs incurred that may reduce Income before provision for income taxes.

The Company has a blended federal and state statutory rate of approximately 26%. The effective income tax rate for 2023 was lower than the blended federal and state statutory rate primarily due to the benefit of FICA tax credits on certain tipped wages and benefits of Brazil tax legislation, which includes a temporary reduction in the Brazilian income tax rate from 34% to 0%.

Deferred Tax Assets and Liabilities - The income tax effects of temporary differences that give rise to significant portions of deferred income tax assets and liabilities are as follows as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Deferred income tax assets:
Operating lease liabilities	$	339,783	$	346,482

Insurance reserves	14,184		15,695
Unearned revenue	55,746		52,366
Deferred compensation	12,210		14,726

Net operating loss carryforwards	12,729		14,277
Federal tax credit carryforwards	177,775		165,411

Other, net (1)	14,334		12,248
Gross deferred income tax assets	626,761		621,205
Less: valuation allowance	(10,583)		(12,664)
Deferred income tax assets, net of valuation allowance	616,178		608,541
Deferred income tax liabilities:
Less: operating lease right-of-use asset basis differences	(277,376)		(284,701)
Less: property, fixtures and equipment basis differences	(66,370)		(63,344)
Less: intangible asset basis differences	(113,027)		(109,162)

Deferred income tax assets, net	$	159,405	$	151,334

Reported as:
Deferred income tax assets	$	159,405	$	153,118
Deferred income tax liabilities (included in Other long-term liabilities, net)	—		(1,784)
Net deferred tax assets	$	159,405	$	151,334

________________

(1)As of December 31, 2023 and December 25, 2022, the Company maintained deferred tax liabilities for state income taxes on historical foreign earnings of $0.5 million and $0.3 million, respectively.

As of December 31, 2023, valuation allowances against deferred tax assets in the U.S. and in certain foreign jurisdictions totaled $0.4 million and $10.2 million, respectively. The Company will maintain the valuation allowances in each applicable tax jurisdiction until it determines it is more likely than not the deferred tax assets will be realized. The net change in the deferred tax valuation allowance in 2023 is primarily attributable to net operating loss carryforwards in certain foreign jurisdictions with full valuation allowances recorded that expired or are no longer available to the Company.

In September 2022, the Company’s Brazilian subsidiary received a preliminary injunction authorizing it to benefit from the exemptions enacted by Law 14,148/2021 which provides for emergency and temporary actions that grant certain industries a 100% exemption from income tax (IRPJ and CSLL) and federal value added taxes (PIS and COFINS) for a five-year period. The injunction was issued as part of an ongoing lawsuit initiated by the Company’s

Brazilian subsidiary due to the uncertainty regarding the restaurant industry’s eligibility for the exemptions under this legislation.

The benefits of the Brazil tax legislation include an increase in revenues as a result of not being required to remit certain PIS and COFINS during the exemption period. The increase in revenues is partially offset by higher costs in several financial statement line items that were previously reduced by PIS and COFINS tax credits that were generated during the exemption period. Benefits of this legislation also initially included a reduction in the Brazilian income tax rate from 34% to 0% for a period of five years on certain income earned in Brazil. Benefits began in the thirteen weeks ended December 25, 2022. The tax benefit attributable to the Brazil tax legislation, including both income tax and PIS and COFINS, was approximately $23.6 million for the year ended December 31, 2023. The benefit of the Brazil tax legislation on GAAP diluted earnings per share was approximately $0.25 for the year ended December 31, 2023.

In May 2023, Brazil enacted tax legislation that prospectively limits the Company’s ability to benefit from the 100% exemption from income tax (IRPJ and CSLL) and federal value added taxes (PIS and COFINS) for the full five-year period (the “May 2023 Brazil tax legislation”). As a result of this legislation, the Company is subject to PIS and COFINS and CSLL beginning in the fourth quarter of 2023 and IRPJ beginning in 2024.

On January 24, 2024, the Company’s Brazilian subsidiary received an unfavorable second level court ruling related to its ongoing litigation regarding its eligibility for tax exemptions under the Brazil tax legislation. The Company will appeal this ruling and in connection with the appeal anticipates making a cash judicial deposit of approximately $45.0 million to $50.0 million during the first half of 2024, which includes the disputed amounts through December 31, 2023. The judicial deposit will be recorded in Other assets, net, on the Company’s Consolidated Balance Sheet. The Company believes that it will more likely than not prevail in this appeal and accordingly has not recorded any expense or liability for the disputed amounts.

Undistributed Earnings - As of December 31, 2023, the Company had aggregate undistributed foreign earnings of approximately $42.6 million. These earnings may be repatriated to the U.S. without additional material U.S. federal income tax. These amounts are not considered indefinitely reinvested in the Company’s foreign subsidiaries.

The Company has not recorded a deferred tax liability on the financial statement carrying amount over the tax basis of its investments in foreign subsidiaries because the Company continues to assert that it is indefinitely reinvested in its underlying investments in foreign subsidiaries. The determination of any unrecorded deferred tax liability on this amount is not practicable due to the uncertainty of how these investments would be recovered.

Tax Carryforwards - The amount and expiration dates of tax loss carryforwards and credit carryforwards as of December 31, 2023 are as follows:


(dollars in thousands)	EXPIRATION DATE			AMOUNT
Federal tax credit carryforwards	2026	-	2043	$	190,169
Foreign loss carryforwards	2024	-	Indefinite	$	55,794
Foreign credit carryforwards	Indefinite			$	864

As of December 31, 2023, the Company had $188.3 million in general business tax credit carryforwards, which have a 20-year carryforward period and are utilized on a first-in, first-out basis. The Company currently expects to utilize these tax credit carryforwards within a 10-year period. However, the Company’s ability to utilize these tax credits could be adversely impacted by, among other items, a future “ownership change” as defined under Section 382 of the Internal Revenue Code.

Unrecognized Tax Benefits - As of December 31, 2023 and December 25, 2022, the liability for unrecognized tax benefits was $17.2 million and $18.3 million, respectively. Of the total amount of unrecognized tax benefits, including accrued interest and penalties, $16.7 million and $17.9 million, respectively, if recognized, would impact the Company’s effective income tax rate.

The following table summarizes the activity related to the Company’s unrecognized tax benefits for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	18,258	$	19,238	$	25,524
Additions for tax positions taken during a prior period	42		114		166
Reductions for tax positions taken during a prior period	(601)		(401)		(4,209)
Additions for tax positions taken during the current period	1,507		1,100		1,292

Settlements with taxing authorities	—		(375)		(2,674)
Lapses in the applicable statutes of limitations	(2,037)		(1,424)		(854)
Translation adjustments	3		6		(7)
Balance, end of the period	$	17,172	$	18,258	$	19,238

The Company had approximately $0.5 million and $0.8 million accrued for the payment of interest and penalties as of December 31, 2023 and December 25, 2022, respectively. The Company recognized immaterial interest and penalties related to uncertain tax positions in the Provision for income taxes, for all periods presented.

In many cases, the Company’s uncertain tax positions are related to tax years that remain subject to examination by relevant taxable authorities. Based on the outcome of these examinations, or a result of the expiration of the statute of limitations for specific jurisdictions, it is reasonably possible that the related recorded unrecognized tax benefits for tax positions taken on previously filed tax returns will change by approximately $0.5 million to $1.0 million within the next 12 months.

Open Tax Years - Following is a summary of the open audit years by jurisdiction as of December 31, 2023:


	OPEN AUDIT YEARS
United States - federal	2007	-	2022
United States - state	2009	-	2022
Foreign	2015	-	2022

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

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+ Details

Description of the Business	12 Months Ended
Description of the Business	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business	Description of the Business Bloomin’ Brands, Inc. (“Bloomin’ Brands” or the “Company”), a holding company that conducts its operations through its subsidiaries, is one of the largest casual dining restaurant companies in the world, with a portfolio of leading, differentiated restaurant concepts. OSI Restaurant Partners, LLC (“OSI”) is the Company’s primary operating entity. The Company owns and operates casual, upscale casual and fine dining restaurants. The Company’s restaurant portfolio has four concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. Additional Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill restaurants in which the Company has no direct investment are operated under franchise agreements.

Segment Reporting (Total Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 3,424,081	$ 3,320,425
Corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	262,638	250,420
U.S. segment \| Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	2,703,751	2,669,953
International segment \| Operating segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 457,692	$ 400,052

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

Summary of Significant Accounting Policies (Revenue Recognition) (Details)	Dec. 31, 2023
Revenue Recognition [Line Items]
Revenue, remaining performance obligation, expected satisfaction within 12 months of inception, percentage	84.00%
Deferred franchise fees \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Revenue Recognition [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	11 years

Segment Reporting (Revenues by Geographic Area) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Segment reporting information [Line Items]

Restaurant sales, franchise and other revenues

$ 4,671,470

$ 4,416,508

$ 4,122,385

U.S. | U.S. segment

Segment reporting information [Line Items]

Restaurant sales, franchise and other revenues

4,053,599

3,911,870

3,759,981

Brazil | International segment

Segment reporting information [Line Items]

Restaurant sales, franchise and other revenues

^[1]

529,670

448,411

297,167

Other - International | International segment

Segment reporting information [Line Items]

Restaurant sales, franchise and other revenues

^[1]

$ 88,201

$ 56,227

$ 65,237

[1]	International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S.

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Income Taxes (Brazil Tax Legislation - Text) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Taxes [Line Items]
Brazil tax legislation, percentage		(7.70%)	0.20%	0.00%
Income taxes at federal statutory rate		21.00%	21.00%	21.00%
Income tax expense (benefit)		$ 18,561	$ 42,704	$ 26,384
Diluted (in USD per share)		$ 2.56	$ 1.03	$ 2.00
Brazil \| Minimum
Income Taxes [Line Items]
Loss contingency, estimate of possible loss		$ 45,000
Brazil \| Maximum
Income Taxes [Line Items]
Loss contingency, estimate of possible loss		50,000
Brazil \| Secretariat of the Federal Revenue Bureau of Brazil
Income Taxes [Line Items]
Income taxes at federal statutory rate	34.00%
Brazil tax legislation [Member]
Income Taxes [Line Items]
Income tax expense (benefit)		$ (23,600)
Diluted (in USD per share)		$ 0.25
Brazil tax legislation [Member] \| Brazil \| Secretariat of the Federal Revenue Bureau of Brazil
Income Taxes [Line Items]
Brazil tax legislation, percentage	100.00%
Brazil tax legislation tax holiday, duration	5 years
Income taxes at federal statutory rate	0.00%

Other Current Assets, Net

12 Months Ended

Dec. 31, 2023

Other Assets [Abstract]

Other Current Assets, Net

Other current assets, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Prepaid expenses	$	26,674	$	29,343
Accounts receivable - gift cards, net (1)	67,424		85,606
Accounts receivable - vendors, net (1)	13,648		25,385
Accounts receivable - franchisees, net (1)	3,671		2,550
Accounts receivable - other, net (1)	18,100		18,408
Deferred gift card sales commissions	18,081		17,755

Other current assets, net	5,404		4,671
	$	153,002	$	183,718

________________

(1)See Note 19 - Allowance for Expected Credit Losses for a rollforward of the related allowance for expected credit losses.

Goodwill and Intangible Assets, Net (Gross Goodwill and Impairment - Table) (Details) - USD ($)	3 Months Ended
	Jun. 25, 2023	Jun. 26, 2022	Jun. 27, 2021	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Goodwill [Line Items]
Goodwill, gross				$ 1,064,370,000	$ 1,061,085,000	$ 1,056,497,000
Accumulated impairment losses				(788,053,000)	(788,053,000)	(788,053,000)
Goodwill, impairment loss	$ 0	$ 0	$ 0
U.S. segment
Goodwill [Line Items]
Goodwill, gross				838,827,000	838,827,000	838,827,000
Accumulated impairment losses				(668,170,000)	(668,170,000)	(668,170,000)
International segment
Goodwill [Line Items]
Goodwill, gross				225,543,000	222,258,000	217,670,000
Accumulated impairment losses				$ (119,883,000)	$ (119,883,000)	$ (119,883,000)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Lease Guarantees - The Company assigned its interest, and is contingently liable, under certain real estate leases. These leases have varying terms, the latest of which expires in 2032. As of December 31, 2023, the undiscounted payments the Company could be required to make in the event of non-payment by the primary lessees was approximately $19.7 million. The present value of these potential payments discounted at the Company’s incremental borrowing rate as of December 31, 2023 was approximately $15.0 million. In the event of default, the indemnity clauses in the Company’s purchase and sale agreements govern its ability to pursue and recover damages incurred. As of December 31, 2023 and December 25, 2022, the Company’s recorded contingent lease liability was $5.3 million and $6.2 million, respectively.

Purchase Obligations - Purchase obligations were $196.8 million and $226.6 million as of December 31, 2023 and December 25, 2022, respectively. These purchase obligations are primarily due within three years, however commitments with various vendors extend through December 2030. Outstanding commitments consist primarily of inventory, fixtures and equipment and technology. In 2023, the Company purchased: (i) more than 95% of its U.S. beef raw materials from four beef suppliers that represent a significant portion of the total beef marketplace in the U.S and (ii) more than 80% of its Brazil pork raw materials from four pork suppliers that represent more than 45% of the total pork marketplace in Brazil.

Litigation and Other Matters - The Company is subject to legal proceedings, claims and liabilities, such as liquor liability, slip and fall cases, wage and hour and other employment-related litigation, which arise in the ordinary course of business. A reserve is recorded when it is both: (i) probable that a loss has occurred and (ii) the amount of loss can be reasonably estimated. The Company evaluates, on a quarterly basis, developments in legal proceedings that could cause an increase or decrease in the amount of the reserve that has been previously recorded, or a revision to the disclosed estimated range of possible losses, as applicable.

The Company’s legal proceedings range from cases brought by a single plaintiff to threatened class actions with many putative class members. While some matters pending against the Company specify the damages claimed by the plaintiff or class, many seek unspecified amounts or are at very early stages of the legal process. Even when the amount of damages claimed against the Company are stated, the claimed amount may be exaggerated, unsupported or unrelated to possible outcomes, and as such, are not meaningful indicators of the Company’s potential liability or financial exposure. As a result, some matters have not yet progressed sufficiently through discovery or development of important factual information and legal issues to enable the Company to estimate an amount of loss or a range of possible loss.

The Company intends to defend itself in legal matters. Some of these matters may be covered, at least in part, by insurance if they exceed specified retention or deductible amounts. However, it is possible that claims may be denied by the Company’s insurance carriers, the Company may be required by its insurance carriers to contribute to the payment of claims, or the Company’s insurance coverage may not continue to be available on acceptable terms or in sufficient amounts. The Company records receivables from third party insurers when recovery has been determined to be probable. The Company believes that the ultimate determination of liability in connection with legal claims pending against the Company, if any, in excess of amounts already provided for such matters in the consolidated financial statements, will not have a material adverse effect on its business, annual results of operations, liquidity or financial position. However, it is possible that the Company’s business, results of operations, liquidity or financial condition could be materially affected in a particular future reporting period by the unfavorable resolution of one or more matters or contingencies during such period.

In recent years, certain subsidiaries of the Company were named in collective actions alleging violations of the Fair Labor Standards Act and state wage and hour laws. For these and other matters, the Company recorded reserves of $13.3 million and $15.1 million for certain of its outstanding legal proceedings as of December 31, 2023 and December 25, 2022, respectively, within Accrued and other current liabilities on its Consolidated Balance Sheets. While the Company believes that additional losses beyond these accruals are reasonably possible, it cannot estimate a possible loss contingency or range of reasonably possible loss contingencies beyond these accruals. During 2023, 2022 and 2021, the Company recognized ($0.2) million, $9.4 million and $5.4 million, respectively, in Other restaurant operating expense in the Company’s Consolidated Statements of Operations and Comprehensive Income for certain legal reserves and settlements.

Royalty Termination - On August 2, 2021, wholly-owned subsidiaries of the Company entered into the Purchase and Sale of Royalty Payment Stream and Termination of Royalty Agreement (the “Royalty Termination Agreement”) with the Carrabba’s Italian Grill founders (the “Carrabba’s Founders”), pursuant to which the Company’s obligation to pay future royalties on U.S. Carrabba’s Italian Grill restaurant sales and lump sum royalty fees on Carrabba’s Italian Grill (and Abbraccio) restaurants opened outside the U.S. was terminated. Upon execution of the Royalty Termination Agreement, the Company made a cash payment of $61.9 million to the Carrabba’s Founders, which was recorded in Other restaurant operating expense in its Consolidated Statements of Operations and Comprehensive Income during 2021.

Insurance - As of December 31, 2023, the future undiscounted payments the Company expects for workers’ compensation, general liability and health insurance claims are as follows:


(dollars in thousands)
2024	$	19,689
2025	11,105
2026	7,546
2027	4,154
2028	2,285
Thereafter	7,715
	$	52,494

The following is a reconciliation of the expected aggregate undiscounted reserves to the discounted reserves for insurance claims recognized on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Undiscounted reserves	$	52,494	$	55,364
Discount (1)	(6,568)		(6,299)
Discounted reserves	$	45,926	$	49,065

Discounted reserves recognized on the Company’s Consolidated Balance Sheets:
Accrued and other current liabilities	$	19,310	$	20,932
Other long-term liabilities, net	26,616		28,133
	$	45,926	$	49,065

____________________

(1) Discount rates of 5.13% and 4.47% were used for December 31, 2023 and December 25, 2022, respectively.

Impairments and Exit Costs (Lease Liability Rollforward) (Details) - Facility closing $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Balance, beginning of the period	$ 5,476
Additions	3,340
Cash payments	(1,142)
Accretion	317
Adjustments	(1,737)
Balance, end of the period	$ 6,254

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2023

Revenue Recognition [Line Items]

Disaggregation of revenue

The following table includes the disaggregation of Restaurant sales and franchise revenues by restaurant concept and major international market for the periods indicated:


	FISCAL YEAR
	2023				2022				2021
(dollars in thousands)	RESTAURANT SALES		FRANCHISE REVENUES		RESTAURANT SALES		FRANCHISE REVENUES		RESTAURANT SALES		FRANCHISE REVENUES
U.S.
Outback Steakhouse	$	2,316,449	$	32,289	$	2,240,432	$	31,418	$	2,175,909	$	29,725
Carrabba’s Italian Grill	721,946		3,036		676,467		2,938		653,231		2,439
Bonefish Grill	570,578		505		559,583		662		544,068		641
Fleming’s Prime Steakhouse & Wine Bar	382,729		—		374,388		—		332,607		—
Other	13,351		78		12,146		49		9,033		9
U.S. total	4,005,053		35,908		3,863,016		35,067		3,714,848		32,814
International
Outback Steakhouse - Brazil (1)	501,128		—		405,866		—		258,997		—
Other (1)(2)	101,227		15,163		83,813		14,620		87,248		12,706
International total	602,355		15,163		489,679		14,620		346,245		12,706
Total	$	4,607,408	$	51,071	$	4,352,695	$	49,687	$	4,061,093	$	45,520

____________________

Contract with customer, asset and liability

The following table includes a detail of assets and liabilities from contracts with customers included on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Other current assets, net
Deferred gift card sales commissions	$	18,081	$	17,755

Unearned revenue
Deferred gift card revenue	$	374,274	$	386,495
Deferred loyalty revenue	5,664		5,628
Deferred franchise fees - current	473		460
Other	1,466		1,632
Total Unearned revenue	$	381,877	$	394,215

Other long-term liabilities, net
Deferred franchise fees - non-current	$	4,036	$	4,126

Other current assets, net

Revenue Recognition [Line Items]

Contract with customer, asset and liability

The following table is a rollforward of deferred gift card sales commissions for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	17,755	$	17,793	$	19,300
Deferred gift card sales commissions amortization	(23,695)		(24,091)		(26,012)
Deferred gift card sales commissions capitalization	26,706		26,743		26,625
Other	(2,685)		(2,690)		(2,120)
Balance, end of the period	$	18,081	$	17,755	$	17,793

Unearned revenue

Revenue Recognition [Line Items]

Contract with customer, asset and liability

The following table is a rollforward of unearned gift card revenue for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Balance, beginning of the period	$	386,495	$	387,945	$	373,048
Gift card sales	328,307		326,603		330,841
Gift card redemptions	(321,057)		(310,017)		(298,397)
Gift card breakage	(19,471)		(18,036)		(17,547)
Balance, end of the period	$	374,274	$	386,495	$	387,945

Stock-based and Deferred Compensation Plans (Equity Compensation Plan Expense) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense

$ 11,834

$ 16,366

$ 24,291

Performance-based share units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense

^[1]

3,089

8,176

13,821

Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense

7,910

7,687

8,184

Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation expense

$ 835

$ 503

$ 2,286

[1]

For 2023 and 2022, includes a cumulative life-to-date adjustment to decrease expense for PSUs granted in fiscal years 2022 and 2020, respectively, based on revised Company projections of performance criteria set forth in the award agreements. For 2021, includes a cumulative life-to-date adjustment to increase expense for PSUs granted in fiscal years 2019, 2020 and 2021 based on Company performance against criteria set forth in the award agreements.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value Measurements (Fair Value Measurements on a Recurring Basis - Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, current, statement of financial position [Extensible Enumeration]	Other current assets, net	Other current assets, net
Derivative liability, current, statement of financial position [Extensible Enumeration]	Accrued and other current liabilities	Accrued and other current liabilities
Derivative liability, noncurrent, statement of financial position [Extensible Enumeration]	Other long-term liabilities, net	Other long-term liabilities, net
Fair value, measurements, recurring \| Fair value, inputs, level 1
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 26,774	$ 8,087
Liabilities, fair value disclosure	0	0
Fair value, measurements, recurring \| Fair value, inputs, level 1 \| Interest rate swap
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, current	0	0
Derivative instruments - interest rate swaps, current liabilities	0	0
Derivative instruments - interest rate swaps, other long-term liabilities	0	0
Fair value, measurements, recurring \| Fair value, inputs, level 1 \| Fixed income funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	12,837	3,301
Fair value, measurements, recurring \| Fair value, inputs, level 1 \| Money market funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	11,083	4,786
Restricted cash and cash equivalents, fair value disclosure	2,854	0
Fair value, measurements, recurring \| Fair value, inputs, level 2
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	320
Liabilities, fair value disclosure	1,146
Fair value, measurements, recurring \| Fair value, inputs, level 2 \| Interest rate swap
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, current	320
Derivative instruments - interest rate swaps, current liabilities	253
Derivative instruments - interest rate swaps, other long-term liabilities	893
Fair value, measurements, recurring \| Fair value, inputs, level 2 \| Fixed income funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0
Fair value, measurements, recurring \| Fair value, inputs, level 2 \| Money market funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	0
Restricted cash and cash equivalents, fair value disclosure	0
Fair value, measurements, recurring \| Carrying value measurement
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	27,094	8,087
Liabilities, fair value disclosure	1,146	0
Fair value, measurements, recurring \| Carrying value measurement \| Interest rate swap
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, current	320	0
Derivative instruments - interest rate swaps, current liabilities	253	0
Derivative instruments - interest rate swaps, other long-term liabilities	893	0
Fair value, measurements, recurring \| Carrying value measurement \| Fixed income funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	12,837	3,301
Fair value, measurements, recurring \| Carrying value measurement \| Money market funds
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, fair value disclosure	11,083	4,786
Restricted cash and cash equivalents, fair value disclosure	$ 2,854	$ 0

Long-term Debt, Net (Second Amended and Restated Credit Agreement Narrative) (Details) - USD ($)			12 Months Ended
	Dec. 05, 2023	Apr. 26, 2022	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021	Apr. 16, 2021
Debt instrument [Line Items]
Proceeds from borrowings on revolving credit facilities			$ 1,079,000,000	$ 1,239,500,000	$ 470,000,000
Secured debt \| Revolving credit facility \| Minimum \| Adjusted Term SOFR
Debt instrument [Line Items]
Basis spread on variable rate		1.50%
Secured debt \| Revolving credit facility \| Minimum \| Base rate
Debt instrument [Line Items]
Basis spread on variable rate	1.50%	0.50%
Secured debt \| Revolving credit facility \| Maximum \| Adjusted Term SOFR
Debt instrument [Line Items]
Basis spread on variable rate		2.50%
Secured debt \| Revolving credit facility \| Maximum \| Base rate
Debt instrument [Line Items]
Basis spread on variable rate	2.50%	1.50%
Secured debt \| Amended Credit Agreement
Debt instrument [Line Items]
Debt covenants compliance, quarterly total net leverage ratio, initial maximum ratio level for increase in borrowing		3.00
Debt covenants compliance, quarterly total net leverage ratio, initial maximum ratio level		4.50
Secured debt \| Amended Credit Agreement \| Base rate option 2
Debt instrument [Line Items]
Basis spread on variable rate		50.00%
Secured debt \| Amended Credit Agreement \| Base rate option 3
Debt instrument [Line Items]
Basis spread on variable rate		1.00%
Secured debt \| Amended Credit Agreement \| Adjusted Term SOFR
Debt instrument [Line Items]
Basis spread on variable rate	0.10%	0.10%
Secured debt \| Amended Credit Agreement \| Minimum \| Adjusted Term SOFR
Debt instrument [Line Items]
Debt instrument, interest rate, floor		0.00%
Secured debt \| Letter of credit \| Minimum
Debt instrument [Line Items]
Letters of credit fee, percentage		1.50%
Line of credit facility, unused capacity, commitment fee percentage		0.25%
Secured debt \| Letter of credit \| Maximum
Debt instrument [Line Items]
Letters of credit fee, percentage		2.50%
Line of credit facility, unused capacity, commitment fee percentage		0.40%
Secured debt \| Senior Secured Credit Facility
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 1,000,000,000
Long-term debt, maturity date						Apr. 16, 2026
Line of credit facility, maximum increase		$ 225,000,000
Secured debt \| Senior Secured Credit Facility \| Term loan A facility
Debt instrument [Line Items]
Debt instrument, face amount						$ 200,000,000
Secured debt \| Senior Secured Credit Facility \| Revolving credit facility
Debt instrument [Line Items]
Line of credit facility, maximum borrowing capacity		1,000,000,000				$ 800,000,000
Proceeds from borrowings on revolving credit facilities		$ 192,500,000

Segment Reporting (Depreciation and Amortization by Segment - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	$ 191,171	$ 169,617	$ 163,391
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	7,863	7,050	6,499
U.S. segment \| Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	157,878	139,170	134,243
International segment \| Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Depreciation and amortization	$ 25,430	$ 23,397	$ 22,649

Convertible Senior Notes (Convertible Notes Text) (Details) $ / shares in Units, shares in Thousands					12 Months Ended
	Nov. 29, 2023 USD ($) $ / shares shares	May 25, 2022 USD ($) shares	May 08, 2020 USD ($) $ / shares shares	May 08, 2020 USD ($) day $ / shares	Dec. 31, 2023 USD ($)	Dec. 25, 2022 USD ($)	Dec. 26, 2021 USD ($)	May 12, 2020 USD ($)
Debt instrument [Line Items]
Repayments of convertible senior notes					$ 214,000	$ 196,919,000	$ 0
Loss on extinguishment and modification of debt					0	(107,630,000)	(2,073,000)
Loss on fair value adjustment of derivatives, net					0	(17,685,000)	$ 0
Issuance of common stock from repurchase of convertible senior notes						48,565,000
Additional paid-in capital
Debt instrument [Line Items]
Issuance of common stock from repurchase of convertible senior notes						48,542,000
Convertible debt \| 2025 Notes
Debt instrument [Line Items]
Debt instrument, face amount					$ 104,786,000	$ 105,000,000		$ 230,000,000
Interest rate, stated percentage, floor			5.00%	5.00%	5.00%	5.00%
Long-term debt, maturity date			May 01, 2025	May 01, 2025
Debt instrument, convertible, conversion ratio	89.730		84.122
Debt instrument, convertible principal amount	$ 1,000		$ 1,000	$ 1,000
Debt conversion, converted instrument, shares to be issued \| shares	9,402		19,348
Debt instrument, convertible, conversion price \| $ / shares	$ 11.14		$ 11.89	$ 11.89
Debt instrument, redemption price, percentage				100.00%
2025 Notes repurchase amount		$ 125,000,000				$ 125,000,000
Repayments of convertible senior notes		$ 196,900,000
Issuance of common stock from repurchase of convertible senior notes (in shares) \| shares		2,300
Loss on extinguishment and modification of debt						104,700,000
Loss on fair value adjustment of derivatives, net						17,700,000
Convertible debt \| 2025 Notes \| Additional paid-in capital
Debt instrument [Line Items]
Issuance of common stock from repurchase of convertible senior notes						$ 48,500,000
Convertible debt \| 2025 Notes \| Conversion option one
Debt instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger				130.00%
Debt instrument, convertible, threshold trading days \| day				20
Debt instrument, convertible, threshold consecutive trading days \| day				30
Convertible debt \| 2025 Notes \| Conversion option two
Debt instrument [Line Items]
Debt instrument, convertible, threshold percentage of stock price trigger				98.00%
Debt instrument, convertible, threshold trading days \| day				5
Debt instrument, convertible, threshold consecutive trading days \| day				5

Other Assets, Net

12 Months Ended

Dec. 31, 2023

Other Assets [Abstract]

Other Assets, Net

Other assets, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Company-owned life insurance	$	28,018	$	27,789
Deferred debt issuance costs - revolving credit facility (1)	3,813		5,505
Liquor licenses	23,125		23,454
Other assets	30,231		25,399
	$	85,187	$	82,147

________________

(1)Net of accumulated amortization of $11.7 million and $10.1 million as of December 31, 2023 and December 25, 2022, respectively.

Allowance for Expected Credit Losses

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Allowance for Expected Credit Losses

The following table is a rollforward of the Company’s trade receivables allowance for expected credit losses for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Allowance for expected credit losses, beginning of the period	$	5,451	$	4,050	$	4,095

Provision for expected credit losses	—		1,547		64
Charge-off of accounts	(147)		(146)		(109)


Allowance for expected credit losses, end of the period	$	5,304	$	5,451	$	4,050

The Company is also exposed to credit losses from off-balance sheet lease guarantees primarily related to the divestiture of certain formerly Company-owned restaurant sites. See Note 21 - Commitments and Contingencies for details regarding these lease guarantees.

Convertible Senior Notes (Schedule of Interest) (Details) - Convertible debt - 2025 Notes - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Debt instrument [Line Items]

Coupon interest

$ 5,242

$ 8,080

$ 11,500

Debt issuance cost amortization

798

1,156

1,557

Total interest expense

^[1]

$ 6,040

$ 9,236

$ 13,057

Debt instrument, effective interest rate

5.85%

[1]	The effective rate of the 2025 Notes over their expected life is 5.85%.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stock-based and Deferred Compensation Plans (Restricted Stock Compensation) (Details) - USD ($)

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Dividends

$ 0

Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted average grant date fair value for PSU/RSUs granted

^[1]

$ 24.18

$ 21.59

$ 25.93

Intrinsic value of RSUs vested

$ 10,275,000

$ 9,070,000

$ 13,482,000

Grant date fair value of RSUs vested

8,257,000

8,025,000

9,434,000

Tax benefits for RSU/stock option compensation expense

1,528,000

$ 1,113,000

$ 1,592,000

Unrecognized RSU expense

$ 9,315,000

Remaining weighted average vesting period

1 year 10 months 24 days

Dividend yield

3.63%

2.43%

[1]	The weighted average dividend yield was 3.63% and 2.43% for 2023 and 2022, respectively. There were no dividends in 2021.

Derivative Instruments and Hedging Activities (Details) - USD ($)

12 Months Ended

Dec. 05, 2023

Apr. 26, 2022

Oct. 25, 2018

Dec. 31, 2023

Adjusted Term SOFR | Amended Credit Agreement | Secured debt

Derivative [Line Items]

Basis spread on variable rate

0.10%

Adjusted Term SOFR | Revolving credit facility | Secured debt | Minimum

Derivative [Line Items]

Basis spread on variable rate

1.50%

Adjusted Term SOFR | Revolving credit facility | Secured debt | Maximum

Derivative [Line Items]

Basis spread on variable rate

2.50%

Base rate | Revolving credit facility | Secured debt | Minimum

Derivative [Line Items]

Basis spread on variable rate

1.50%

0.50%

Base rate | Revolving credit facility | Secured debt | Maximum

Derivative [Line Items]

Basis spread on variable rate

2.50%

1.50%

Interest rate swap | Designated as hedging instrument

Derivative [Line Items]

Notional amount

$ 200,000,000

$ 550,000,000

Weighted-average fixed interest rate

3.04%

Termination date

Nov. 30, 2022

Derivative, embedded floor interest rate

0.10%

Interest rate swap | Designated as hedging instrument | Interest Income

Derivative [Line Items]

Cash flow hedge loss to be reclassified within twelve months

$ 100,000

Interest rate swap | Designated as hedging instrument | One-year

Derivative [Line Items]

Notional amount

$ 100,000,000

Weighted-average fixed interest rate

^[1]

4.92%

Derivative, inception date

Dec. 29, 2023

Termination date

Dec. 31, 2024

Interest rate swap | Designated as hedging instrument | Two-year

Derivative [Line Items]

Notional amount

$ 100,000,000

Weighted-average fixed interest rate

^[1]

4.34%

Derivative, inception date

Dec. 29, 2023

Termination date

Dec. 31, 2025

[1]	The weighted averaged fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.

Summary of Significant Accounting Policies (Research and Development Expenses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
General and administrative
Schedule of research and development expense [Line Items]
Research and development expense	$ 3.5	$ 2.7	$ 2.6

Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Share Repurchases - On February 7, 2023, the Company’s Board of Directors (the “Board”) approved a share repurchase program (the “2023 Share Repurchase Program”) under which the Company is authorized to repurchase up to $125.0 million of its outstanding common stock. The 2023 Share Repurchase Program will expire on August 7, 2024. As of December 31, 2023, $70.0 million remained available for repurchase under the 2023 Share Repurchase Program.

Following is a summary of the shares repurchased during fiscal year 2023:


(in thousands, except per share data)	NUMBER OF SHARES	AVERAGE REPURCHASE PRICE PER SHARE	AMOUNT


First fiscal quarter	863			$	23.92	$	20,645
Second fiscal quarter	619			$	25.11	15,539
Third fiscal quarter	590			$	27.03	15,956
Fourth fiscal quarter	735			$	24.29	17,860
Total common stock repurchases (1)	2,807			$	24.93	$	70,000

________________

(1)Excludes $0.1 million of excise tax on share repurchases. Subsequent to December 31, 2023, the Company repurchased 473 thousand shares of its common stock for $12.5 million under the 2023 Share Repurchase Program under a Rule 10b5-1 plan.

In February 2024, the Company’s Board canceled the remaining $57.5 million of authorization under the 2023 Share Repurchase Program and approved a new $350.0 million authorization (the “2024 Share Repurchase Program”). The 2024 Share Repurchase Program includes capacity above the Company’s normal repurchase activity to provide flexibility in retiring the 2025 Notes at or prior to their May 2025 maturity. The 2024 Share Repurchase Program will expire on August 13, 2025.

Dividends - The Company declared and paid dividends per share during the periods presented as follows:


	DIVIDENDS PER SHARE		AMOUNT
	FISCAL YEAR		FISCAL YEAR
(dollars in thousands, except per share data)	2023		2022		2023		2022
First fiscal quarter	$	0.24	$	0.14	$	21,014	$	12,559
Second fiscal quarter	0.24		0.14		20,990		12,418
Third fiscal quarter	0.24		0.14		20,901		12,475
Fourth fiscal quarter	0.24		0.14		20,837		12,284
Total cash dividends declared and paid	$	0.96	$	0.56	$	83,742	$	49,736

In February 2024, the Board declared a quarterly cash dividend of $0.24 per share, payable on March 20, 2024 to shareholders of record at the close of business on March 6, 2024.

Accumulated Other Comprehensive Loss (“AOCL”) - Following are the components of AOCL as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Foreign currency translation adjustment	$	(177,689)	$	(185,311)
Unrealized loss on derivatives, net of tax	(615)		—
Accumulated other comprehensive loss	$	(178,304)	$	(185,311)

Following are the components of Other comprehensive income attributable to Bloomin’ Brands for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021

Foreign currency translation adjustment	$	7,622	$	10,169	$	(6,597)


Change in fair value of derivatives, net of tax	(606)		573		86
Reclassification realized in Net income, net of tax (1)	(9)		954		7,392
Impact of terminated interest rate swaps included in Net income, net of tax (1)	—		8,982		4,576
(Loss) gain on derivatives, net of tax	(615)		10,509		12,054
Other comprehensive income attributable to Bloomin’ Brands	$	7,007	$	20,678	$	5,457

________________

(1)See Note 16 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications and the terminated swaps.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Commitments and Contingencies (Lease Guarantees) (Details) - Property lease guarantee - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Guarantor Obligations [Line Items]
Lease guarantees, maximum exposure, undiscounted	$ 19.7
Lease guarantees, maximum exposure at present value	15.0
Lease guarantees, current carrying value	$ 5.3	$ 6.2

Impairments and Exit Costs (Restructuring and Related Costs) (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) Restaurants	Dec. 31, 2023 USD ($) Restaurants	Dec. 25, 2022 USD ($)	Dec. 26, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on termination of lease			$ 6,700
Facility closing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additions			3,340
Provision for impaired assets and restaurant closings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses			$ 40,412	$ 5,486	$ 13,401
U.S. segment \| Lease termination
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants		1	1
U.S. segment \| Provision for impaired assets and restaurant closings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses			$ 39,812	3,942	11,945
International segment \| Provision for impaired assets and restaurant closings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses			600	$ 1,537	$ 1,186
2023 Closure Initiative
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additions		$ 32,372	32,372
2023 Closure Initiative \| General and administrative \| Employee severance
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Severance and other expenses		622	622
2023 Closure Initiative \| Other restaurant operating \| Contract termination
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lease remeasurement gains		(2,450)	(2,450)
2023 Closure Initiative \| Property, fixtures and equipment, net \| Provision for impaired assets and restaurant closings \| Facility closing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses		23,934	23,934
2023 Closure Initiative \| Operating lease, right-of-use-asset \| Provision for impaired assets and restaurant closings \| Facility closing
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses		$ 10,266	$ 10,266
2023 Closure Initiative \| Minimum \| Scenario, forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Severance and closure costs	$ 8,000
2023 Closure Initiative \| Maximum \| Scenario, forecast [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Severance and closure costs	$ 11,000
2023 Closure Initiative \| U.S. segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants		36	36
2023 Closure Initiative \| U.S. segment \| Aussie Grill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants		3	3
2023 Closure Initiative \| International segment \| Aussie Grill
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of restaurants \| Restaurants		2	2

Leases (Lease Costs) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Schedule of Lease Costs [Line Items]

Operating lease cost

^[1]

$ 182,361

$ 182,091

$ 178,733

Variable lease cost

7,467

6,508

4,350

^[2]

Amortization of leased assets

2,252

1,420

1,079

Interest on lease liabilities

694

172

129

Sublease revenue

(7,665)

(9,016)

(9,396)

Lease costs, net

185,109

181,175

174,895

General and administrative

Schedule of Lease Costs [Line Items]

Operating lease cost

$ 12,300

$ 12,200

$ 12,900

[1]	Excludes rent expense for office facilities and Company-owned closed or subleased properties of $12.3 million, $12.2 million and $12.9 million for 2023, 2022 and 2021, respectively, which is included in General and administrative expense. Also excludes certain immaterial supply chain related rent expense included in Food and beverage costs for 2021.
[2]	Includes COVID-19-related rent abatements in 2021.

Property, Fixtures and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Fixtures and Equipment, Net

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Land	$	34,654	$	37,596
Buildings	1,269,214		1,223,403
Furniture and fixtures	526,192		489,895
Equipment	830,644		739,136
Construction in progress	78,949		41,723
Less: accumulated depreciation	(1,707,731)		(1,617,611)
	$	1,031,922	$	914,142

Depreciation and repair and maintenance expense are as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Depreciation expense	$	185,187	$	163,445	$	157,386
Repair and maintenance expense	$	125,492	$	116,318	$	104,209

Stock-based and Deferred Compensation Plans (Other Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
401(k) plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Defined contribution plan, employer contribution costs	$ 5.6	$ 5.6	$ 6.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill [Line Items]

Goodwill rollforward

The following table is a rollforward of goodwill for the periods indicated:


(dollars in thousands)	U.S.		INTERNATIONAL		CONSOLIDATED
Balance as of December 26, 2021	$	170,657	$	97,787	$	268,444

Translation adjustments	—		4,588		4,588


Balance as of December 25, 2022	170,657		102,375		273,032

Translation adjustments	—		3,285		3,285




Balance as of December 31, 2023	$	170,657	$	105,660	$	276,317

Schedule of goodwill and intangible assets by reporting unit

The following table presents goodwill, trade names and trademarks balances by reporting unit as of the periods indicated:


	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)	GOODWILL		TRADE NAMES		TRADEMARKS		GOODWILL		TRADE NAMES		TRADEMARKS
Outback Steakhouse	$	123,188	$	287,000	$	—	$	123,188	$	287,000	$	—
Carrabba’s Italian Grill	18,826		69,000		—		18,826		69,000		—
Bonefish Grill	28,188		—		9,788		28,188		—		12,618
Fleming’s Prime Steakhouse & Wine Bar	455		—		8,412		455		—		9,407
U.S. total	170,657		356,000		18,200		170,657		356,000		22,025
Outback Steakhouse - Brazil	62,994		—		—		59,709		—		252
International - Franchise	42,666		58,716		—		42,666		58,716		—
International total	105,660		58,716		—		102,375		58,716		252
Total	$	276,317	$	414,716	$	18,200	$	273,032	$	414,716	$	22,277

Finite-lived intangible assets amortization expense

The following table presents the aggregate expense related to the amortization of the Company’s trademarks and reacquired franchise rights for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Amortization expense	$	5,984	$	6,172	$	6,005

Schedule of finite-lived intangible assets, future amortization expense

The following table presents expected annual amortization of intangible assets as of December 31, 2023:


(dollars in thousands)
2024	$	5,738
2025	$	5,470
2026	$	5,374
2027	$	3,624
2028	$	2,076

Goodwill

Goodwill [Line Items]

Schedule of goodwill and intangible assets

The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022				DECEMBER 26, 2021
(dollars in thousands)	GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS		GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS		GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS
U.S.	$	838,827	$	(668,170)	$	838,827	$	(668,170)	$	838,827	$	(668,170)
International	225,543		(119,883)		222,258		(119,883)		217,670		(119,883)
Total goodwill	$	1,064,370	$	(788,053)	$	1,061,085	$	(788,053)	$	1,056,497	$	(788,053)

Intangible assets, net

Goodwill [Line Items]

Schedule of goodwill and intangible assets

Intangible assets, net, consisted of the following as of the periods indicated:


	WEIGHTED AVERAGE REMAINING AMORTIZATION PERIOD (in years)	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)		GROSS CARRYING VALUE		ACCUMULATED AMORTIZATION		NET CARRYING VALUE		GROSS CARRYING VALUE		ACCUMULATED AMORTIZATION		NET CARRYING VALUE
Trade names	Indefinite	$	414,716			$	414,716	$	414,716			$	414,716
Trademarks	5	81,952		$	(63,752)	18,200		81,952		$	(59,675)	22,277


Reacquired franchise rights (1)	8	36,506		(26,437)		10,069		34,602		(23,269)		11,333

Total intangible assets	6	$	533,174	$	(90,189)	$	442,985	$	531,270	$	(82,944)	$	448,326

________________

(1)Included within Outback Steakhouse - Brazil.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands

Total

Cumulative-effect from a change in accounting principle

Common stock

Additional paid-in capital

Cumulative-effect from a change in accounting principle

Retained earnings

Cumulative-effect from a change in accounting principle

Accumulated other comprehensive loss

Noncontrolling interests

Balance (in shares) at Dec. 27, 2020

87,856,000

Balance at Dec. 27, 2020

$ 10,957

$ (42,953)

$ 879

$ 1,132,808

$ (47,323)

$ (918,096)

$ 4,370

$ (211,446)

$ 6,812

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Accounting Standards Update [Extensible Enumeration]

Accounting standards updated 2020-06

Net income

$ 222,913

215,555

7,358

Other comprehensive income, net of tax

5,457

Stock-based compensation

24,405

Common stock issued under stock plans, shares

^[1]

1,397,000

Common stock issued under stock plans

^[1]

9,850

$ 14

9,836

Purchase of noncontrolling interests, net of tax

(3)

(5)

Distributions to noncontrolling interests

(9,123)

Contributions from noncontrolling interests

1,347

Balance (in shares) at Dec. 26, 2021

89,253,000

Balance at Dec. 26, 2021

222,850

$ 893

1,119,728

(698,171)

(205,989)

6,389

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

109,203

101,907

7,296

Other comprehensive income, net of tax and AOCI, cash flow hedge, reference rate reform, increase (decrease), after tax

20,778

100

20,678

Cash dividends declared, per common share

(49,736)

Repurchase and retirement of common stock (in shares)

(5,429,000)

Repurchase and retirement of common stock

(109,999)

$ (54)

(109,945)

Stock-based compensation

16,514

Common stock issued under stock plans, shares

^[1]

1,559,000

Common stock issued under stock plans

^[1]

12,955

$ 15

12,940

Purchase of noncontrolling interests, net of tax

(4,815)

(1,415)

(3,400)

Distributions to noncontrolling interests

(9,127)

Contributions from noncontrolling interests

1,382

Retirement of convertible senior note hedges

112,956

Retirement of warrants

(97,617)

Issuance of common stock from repurchase of convertible senior notes (in shares)

2,313,000

Issuance of common stock from repurchase of convertible senior notes

$ 48,565

$ 23

48,542

Balance (in shares) at Dec. 25, 2022

87,696,200

87,696,000

Balance at Dec. 25, 2022

$ 273,909

$ 877

1,161,912

(706,109)

(185,311)

2,540

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income

254,414

247,386

7,028

Other comprehensive income, net of tax

7,007

Cash dividends declared, per common share

(83,742)

Repurchase and retirement of common stock (in shares)

(2,807,000)

Repurchase and retirement of common stock

(70,136)

$ (28)

(70,108)

Stock-based compensation

11,911

Common stock issued under stock plans, shares

^[1]

2,080,000

Common stock issued under stock plans

^[1]

25,327

$ 21

25,306

Distributions to noncontrolling interests

(8,684)

Contributions from noncontrolling interests

$ 1,997

1,997

Balance (in shares) at Dec. 31, 2023

86,968,536

86,969,000

Balance at Dec. 31, 2023

$ 412,003

$ 870

$ 1,115,387

$ (528,831)

$ (178,304)

$ 2,881

[1]	Net of shares withheld for employee taxes.

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenues
Restaurant sales, franchise and other revenues	$ 4,671,470	$ 4,416,508	$ 4,122,385
Costs and expenses
Food and beverage	1,409,649	1,383,632	1,229,689
Labor and other related	1,325,339	1,226,460	1,154,623
Other restaurant operating	1,126,123	1,065,662	1,006,371
Depreciation and amortization	191,171	169,617	163,391
General and administrative	260,470	234,752	245,616
Provision for impaired assets and restaurant closings	33,574	5,964	13,737
Total costs and expenses	4,346,326	4,086,087	3,813,427
Income from operations	325,144	330,421	308,958
Loss on extinguishment and modification of debt	0	(107,630)	(2,073)
Loss on fair value adjustment of derivatives, net	0	(17,685)	0
Interest expense, net	(52,169)	(53,199)	(57,588)
Income before provision for income taxes	272,975	151,907	249,297
Provision for income taxes	18,561	42,704	26,384
Net income	254,414	109,203	222,913
Less: net income attributable to noncontrolling interests	7,028	7,296	7,358
Net income attributable to Bloomin’ Brands	247,386	101,907	215,555
Other comprehensive income:
Foreign currency translation adjustment	7,622	10,169	(6,597)
Net (loss) gain on derivatives, including the impact of terminated swap agreements, net of tax	(615)	10,509	12,054
Comprehensive income	261,421	129,881	228,370
Less: comprehensive income attributable to noncontrolling interests	7,028	7,296	7,358
Comprehensive income attributable to Bloomin’ Brands	$ 254,393	$ 122,585	$ 221,012
Earnings per share:
Basic (in USD per share)	$ 2.84	$ 1.15	$ 2.42
Diluted (in USD per share)	$ 2.56	$ 1.03	$ 2.00
Weighted average common shares outstanding:
Basic (shares)	87,230	88,846	88,981
Diluted (shares)	96,453	98,512	107,803
Cash dividends declared per common share	$ 0.96	$ 0.56	$ 0
Restaurant sales
Revenues
Restaurant sales, franchise and other revenues	$ 4,607,408	$ 4,352,695	$ 4,061,093
Franchise and other revenues
Revenues
Restaurant sales, franchise and other revenues	$ 64,062	$ 63,813	$ 61,292

Income Taxes (Provision for Income Taxes - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Current provision (benefit):
Federal	$ 17,514	$ 13,026	$ 16,951
State	10,788	10,576	10,917
Foreign	(1,918)	5,354	1,862
Current provision	26,384	28,956	29,730
Deferred (benefit) provision:
Federal	(2,787)	5,172	(2,057)
State	944	3,470	1,194
Foreign	(5,980)	5,106	(2,483)
Deferred (benefit) provision	(7,823)	13,748	(3,346)
Provision for income taxes	$ 18,561	$ 42,704	$ 26,384

Commitments and Contingencies (Table)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of future minimum expected insurance payments

As of December 31, 2023, the future undiscounted payments the Company expects for workers’ compensation, general liability and health insurance claims are as follows:


(dollars in thousands)
2024	$	19,689
2025	11,105
2026	7,546
2027	4,154
2028	2,285
Thereafter	7,715
	$	52,494

Schedule of liability for unpaid claims and claims adjustment expense


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Undiscounted reserves	$	52,494	$	55,364
Discount (1)	(6,568)		(6,299)
Discounted reserves	$	45,926	$	49,065

Discounted reserves recognized on the Company’s Consolidated Balance Sheets:
Accrued and other current liabilities	$	19,310	$	20,932
Other long-term liabilities, net	26,616		28,133
	$	45,926	$	49,065

____________________

(1) Discount rates of 5.13% and 4.47% were used for December 31, 2023 and December 25, 2022, respectively.

Income Taxes (Undistributed Earnings - Text) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Income Tax Disclosure [Abstract]
Undistributed earnings of foreign subsidiaries	$ 42.6

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Current assets
Cash and cash equivalents	$ 111,519	$ 84,735
Restricted cash and cash equivalents	2,854	0
Inventories	75,939	78,124
Other current assets, net	153,002	183,718
Total current assets	343,314	346,577
Property, fixtures and equipment, net	1,031,922	914,142
Operating lease right-of-use assets	1,084,951	1,103,083
Goodwill	276,317	273,032
Intangible assets, net	442,985	448,326
Deferred income tax assets, net	159,405	153,118
Other assets, net	85,187	82,147
Total assets	3,424,081	3,320,425
Current liabilities
Accounts payable	189,202	183,715
Current operating lease liabilities	175,442	183,510
Accrued and other current liabilities	255,814	217,427
Unearned revenue	381,877	394,215
Total current liabilities	1,002,335	978,867
Non-current operating lease liabilities	1,131,639	1,148,607
Long-term debt, net	780,719	828,507
Other long-term liabilities, net	97,385	90,535
Total liabilities	3,012,078	3,046,516
Commitments and contingencies
Bloomin’ Brands stockholders’ equity
Preferred stock, $0.01 par value, 25,000,000 shares authorized; no shares issued and outstanding as of December 31, 2023 and December 25, 2022	0	0
Common stock, $0.01 par value, 475,000,000 shares authorized; 86,968,536 and 87,696,200 shares issued and outstanding as of December 31, 2023 and December 25, 2022, respectively	870	877
Additional paid-in capital	1,115,387	1,161,912
Accumulated deficit	(528,831)	(706,109)
Accumulated other comprehensive loss	(178,304)	(185,311)
Total Bloomin’ Brands stockholders’ equity	409,122	271,369
Noncontrolling interests	2,881	2,540
Total stockholders’ equity	412,003	273,909
Total liabilities and stockholders’ equity	$ 3,424,081	$ 3,320,425

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

In February 2021, the Company provided the trustee of its 2025 Notes notice of the Company’s irrevocable election to settle the principal portion of the 2025 Notes in cash and any excess of average market price of the Company’s common stock exceeding conversion price is to be settled in shares. As a result, subsequent to the election, only the amounts in excess of the principal amount are considered in diluted earnings per share.

In connection with the offering of the 2025 Notes, the Company entered into the Convertible Note Hedge Transactions and Warrant Transactions described in Note 13 - Convertible Senior Notes. However, the Convertible Note Hedge Transactions are not considered when calculating dilutive shares given their antidilutive impact as an offset to dilution of shares underlying the 2025 Notes. The Warrant Transactions have a dilutive effect on the Company’s common stock to the extent the price of its common stock exceeds the strike price of the Warrant Transactions. See Note 13 - Convertible Senior Notes for additional information regarding the 2025 Notes, Convertible Note Hedge Transactions and Warrant Transactions.

The following table presents the computation of basic and diluted earnings per share for the periods indicated:


	FISCAL YEAR
(in thousands, except per share data)	2023		2022		2021
Net income attributable to Bloomin’ Brands	$	247,386	$	101,907	$	215,555


Convertible senior notes if-converted method interest adjustment, net of tax (1)	—		—		345
Diluted net income attributable to Bloomin’ Brands	$	247,386	$	101,907	$	215,900

Basic weighted average common shares outstanding	87,230		88,846		88,981

Effect of dilutive securities:
Stock options	381		261		779
Nonvested restricted stock units	203		182		355
Nonvested performance-based share units	183		180		61
Convertible senior notes (1)(2)	5,067		6,089		11,377
Warrants (2)	3,389		2,954		6,250
Diluted weighted average common shares outstanding	96,453		98,512		107,803

Basic earnings per share	$	2.84	$	1.15	$	2.42
Diluted earnings per share	$	2.56	$	1.03	$	2.00

________________

(1)Adjustment for interest related to the 2025 Notes weighted for the portion of the period prior to the Company’s election under the 2025 Notes indenture to settle the principal portion of the 2025 Notes in cash. Effective with the Company’s election, there will be no further numerator adjustments for interest or denominator adjustments for shares required to settle the principal portion.

(2)During 2022, the Company repurchased $125.0 million of the 2025 Notes and settled the corresponding portion of the related warrants. See Note 13 - Convertible Senior Notes for additional details.

Share-based compensation-related weighted average securities outstanding not included in the computation of earnings per share because their effect was antidilutive were as follows for the periods indicated:


	FISCAL YEAR
(shares in thousands)	2023	2022	2021
Stock options	521	1,849	751
Nonvested restricted stock units	35	192	128
Nonvested performance-based share units	368	461	377

Convertible Senior Notes

12 Months Ended

Dec. 31, 2023

Convertible Notes [Abstract]

Convertible Senior Notes

2025 Notes - In May 2020, the Company completed a $230.0 million principal amount private offering of 5.00% convertible senior unsecured notes due in 2025. The 2025 Notes are governed by the terms of an indenture between the Company and Wells Fargo Bank, National Association, as the Trustee. The 2025 Notes mature on May 1, 2025, unless earlier converted, redeemed or purchased by the Company. The 2025 Notes bear cash interest at an annual rate of 5.00%, payable semi-annually in arrears on May 1 and November 1 of each year.

The initial conversion rate applicable to the 2025 Notes was 84.122 shares of common stock per $1,000 principal amount of 2025 Notes, or a total of approximately 19.348 million shares for the total $230.0 million principal amount. This initial conversion rate was equivalent to an initial conversion price of approximately $11.89 per share. The conversion rate is subject to adjustment upon the occurrence of certain specified events.

Prior to the close of business on the business day immediately preceding November 1, 2024, holders may convert all or a portion of their 2025 Notes under the following circumstances: (i) during any calendar quarter if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for each of at least 20 trading days during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter; (ii) during the five consecutive business days immediately after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount

of 2025 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price per share of the Company’s common stock and the conversion rate on each such trading day; (iii) upon the occurrence of specified corporate events or distributions on the Company’s common stock; (iv) if the Company calls the 2025 Notes for redemption and (v) at any time from, and including November 1, 2024 until the close of business on the second scheduled trading day immediately before the maturity date.

The 2025 Notes are redeemable by the Company, in whole or in part, at the Company’s option at any time, and from time to time, on or before the 40th scheduled trading day immediately before the maturity date, at a cash redemption price equal to the principal amount of the 2025 Notes to be redeemed, plus accrued and unpaid interest, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price on: (i) each of at least 20 trading days, whether or not consecutive, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends the related redemption notice; and (ii) the trading day immediately before the date the Company sends such notice. In addition, calling any of the 2025 Notes for redemption will constitute a make-whole fundamental change with respect to that note, in which case the conversion rate applicable to the conversion of the 2025 Notes will be increased in certain circumstances if it is converted after it is called for redemption.

If a fundamental change occurs prior to the maturity date, holders may require the Company to repurchase all or a portion of their 2025 Notes for cash at a price equal to 100% of the principal amount of the 2025 Notes to be repurchased, plus accrued and unpaid interest. Holders of 2025 Notes who convert their 2025 Notes in connection with a notice of redemption or a make-whole fundamental change may be entitled to a premium in the form of an increase in the conversion rate of the 2025 Notes.

Based on the daily closing prices of the Company’s stock during the quarter ended December 31, 2023, holders of the 2025 Notes are eligible to convert their 2025 Notes during the first quarter of 2024. The Company has provided the trustee of the 2025 Notes notice of its irrevocable election under the 2025 Notes indenture to settle the principal portion of the 2025 Notes upon conversion in cash and any excess in shares.

On May 25, 2022, the Company entered into exchange agreements (the “Exchange Agreements”) with certain holders (the “Noteholders”) of the 2025 Notes. The Noteholders agreed to exchange $125.0 million in aggregate principal amount of the Company’s outstanding 2025 Notes for $196.9 million in cash, plus accrued interest, and approximately 2.3 million shares of the Company’s common stock (the “2025 Notes Partial Repurchase”). Under the Exchange Agreements, the total amount of cash paid and number of shares of common stock issued by the Company were based upon the volume-weighted average price per share of the Company’s common stock during a ten-trading day averaging period ending on June 14, 2022. Upon entering into the Exchange Agreements, the conversion feature related to the 2025 Notes repurchased, as well as the settlements of the related convertible senior note hedges and warrants, were subject to derivative accounting. In connection with the 2025 Notes Partial Repurchase, the Company recognized a loss on extinguishment of debt of $104.7 million and a loss on fair value adjustment of derivatives, net of $17.7 million, and recorded a $48.5 million increase to Additional paid-in capital during 2022.

In connection with dividends paid during 2023, the conversion rate for the remaining 2025 Notes decreased to approximately $11.14 per share, which represents 89.730 shares of common stock per $1,000 principal amount of the 2025 Notes, or a total of approximately 9.402 million shares.

The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Principal	$	104,786	$	105,000

Less: unamortized debt issuance costs	(1,138)		(1,939)
Net carrying amount	$	103,648	$	103,061

Following is a summary of interest expense for the 2025 Notes, by component for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Coupon interest	$	5,242	$	8,080	$	11,500

Debt issuance cost amortization	798		1,156		1,557
Total interest expense (1)	$	6,040	$	9,236	$	13,057

________________

(1)The effective rate of the 2025 Notes over their expected life is 5.85%.

Convertible Note Hedge and Warrant Transactions - In connection with the offering of the 2025 Notes, the Company entered into convertible note hedge transactions (the “Convertible Note Hedge Transactions”) with certain of the initial purchasers of the 2025 Notes and/or their respective affiliates and other financial institutions (in this capacity, the “Hedge Counterparties”). Concurrently with the Company’s entry into the Convertible Note Hedge Transactions, the Company also entered into separate, warrant transactions with the Hedge Counterparties collectively relating to the same number of shares of the Company’s common stock, subject to customary anti-dilution adjustments, and for which the Company received proceeds that partially offset the cost of entering into the Convertible Note Hedge Transactions (the “Warrant Transactions”).

The Convertible Note Hedge Transactions cover, subject to customary anti-dilution adjustments, the number of shares of the Company’s common stock that initially underlie the 2025 Notes, and are expected generally to reduce the potential equity dilution in excess of the principal amount due upon conversion of the 2025 Notes. The Warrant Transactions have a dilutive effect on the Company’s common stock to the extent that the price of its common stock exceeds the strike price of the Warrant Transactions. The strike price was initially $16.64 per share and is subject to certain adjustments under the terms of the Warrant Transactions.

The Convertible Note Hedge Transactions are exercisable upon conversion of the 2025 Notes. The Convertible Note Hedge Transactions expire upon maturity of the 2025 Notes. The Warrant Transactions are exercisable on the expiration dates included in the related forms of confirmation.

In connection with the 2025 Notes Partial Repurchase, the Company entered into partial unwind agreements with certain financial institutions relating to a portion of the convertible note hedge transactions (the “Note Hedge Early Termination Agreements”) and a portion of the Warrant Transactions (the “Warrant Early Termination Agreements”) that were previously entered into by the Company in connection with the issuance of the 2025 Notes. Upon settlement, the Company received $131.9 million for the Note Hedge Early Termination Agreements and paid $114.8 million for the Warrant Early Termination Agreements. In connection with the Note Hedge Early Termination Agreements and the Warrant Early Termination Agreements the Company recorded a $113.0 million increase and a $97.6 million decrease, respectively, to Additional paid-in capital during 2022.

The remaining Warrant Transactions have a dilutive effect on the Company’s common stock to the extent that the price of its common stock exceeds the strike price of the Warrant Transactions. In connection with dividends paid during 2023, the strike price for the remaining Warrant Transactions decreased to $15.60.

Summary of Significant Accounting Policies (Advertising Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Other restaurant operating
Schedule of Advertising Costs [Line Items]
Advertising expense	$ 115.6	$ 94.0	$ 59.7

Derivative Instruments and Hedging Activities (Designated Hedges - Text) (Details) - Interest rate swap - Designated as hedging instrument

24 Months Ended

Dec. 05, 2023

USD ($)

counterparty

Oct. 25, 2018

USD ($)

counterparty

Dec. 25, 2022

USD ($)

Derivative [Line Items]

Number of counterparties | counterparty

Notional amount

$ 200,000,000

$ 550,000,000

Termination date

Nov. 30, 2022

Weighted-average fixed interest rate

3.04%

Description of terms

one-month LIBOR

Number of instruments held | counterparty

One-year

Derivative [Line Items]

Notional amount

$ 100,000,000

Termination date

Dec. 31, 2024

Weighted-average fixed interest rate

^[1]

4.92%

Term of contract

1 year

Two-year

Derivative [Line Items]

Notional amount

$ 100,000,000

Termination date

Dec. 31, 2025

Weighted-average fixed interest rate

^[1]

4.34%

Term of contract

2 years

Contract termination

Derivative [Line Items]

Payments for settlement of interest rate, cash flow hedge

$ 18,300,000

[1]	The weighted averaged fixed interest rate excludes the term SOFR adjustment and interest rate spread described below.

Long-term Debt, Net (Maturities - Tables) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Debt Disclosure [Abstract]
2024	$ 0
2025	104,786
2026	381,000
2027	0
2028	0
Thereafter	300,000
Total payments	785,786
Less: unamortized debt discount and issuance costs	(5,067)	$ (6,493)
Total principal payments	$ 780,719	$ 828,507

Cover Page - USD ($) $ / shares in Units, $ in Billions	12 Months Ended
Cover Page - USD ($) $ / shares in Units, $ in Billions	Dec. 31, 2023	Feb. 23, 2024	Jun. 23, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35625
Entity Registrant Name	BLOOMIN’ BRANDS, INC.
Entity Incorporation, State	DE
Entity Tax Identification Number	20-8023465
Entity Address Line One	2202 North West Shore Boulevard
Entity Address Line Two	Suite 500
Entity Address City	Tampa
Entity Address State	FL
Entity Address Postal Zip Code	33607
City Area Code	813
Local Phone Number	282-1225
Title of 12(b) Security	Common Stock
Security Trading Currency	USD
Par Value Per Share	$ 0.01
Trading Symbol	BLMN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Reporting Company	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 2.2
Entity Common Stock, Shares Outstanding		87,058,234
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement for its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III, Items 10-14 of this Annual Report on Form 10-K.
Amendment Flag	false
Entity Central Index Key	0001546417
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Goodwill and Intangible Assets, Net (Annual Amortization Expense - Table) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense 2024	$ 5,738
Amortization expense 2025	5,470
Amortization expense 2026	5,374
Amortization expense 2027	3,624
Amortization expense 2028	$ 2,076

Income Taxes (Effective Tax Rate - Narrative) (Details)	1 Months Ended	12 Months Ended
Income Taxes (Effective Tax Rate - Narrative) (Details)	Sep. 30, 2022	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Tax Holiday [Line Items]
Income taxes at federal statutory rate		21.00%	21.00%	21.00%
Blended federal and state statutory income tax rate		26.00%
Brazil \| Secretariat of the Federal Revenue Bureau of Brazil
Income Tax Holiday [Line Items]
Income taxes at federal statutory rate	34.00%
Brazil \| Secretariat of the Federal Revenue Bureau of Brazil \| Brazil tax legislation [Member]
Income Tax Holiday [Line Items]
Income taxes at federal statutory rate	0.00%

Summary of Significant Accounting Policies (Deferred Debt Issuance Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Interest expense
Deferred debt issuance costs [Line Items]
Debt issuance cost amortization	$ 3.1	$ 3.5	$ 4.5

Summary of Significant Accounting Policies (Recently Issued Financial Accounting Standards) (Details) - USD ($) $ in Thousands	Dec. 28, 2020	Dec. 31, 2023	Dec. 25, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax impact of cumulative-effect adjustment		$ 616,178	$ 608,541
Accounting standards updated 2020-06
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax impact of cumulative-effect adjustment	$ 14,900
Accounting standards updated 2020-06 \| Additional paid-in capital \| Cumulative-effect from a change in accounting principle
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reversal of separated equity component, net of tax	(47,300)
Accounting standards updated 2020-06 \| 2025 Notes \| Convertible debt \| Long-term debt, net
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt discount reclassification	59,900
Equity issuance costs reclassification	(2,100)
Accounting standards updated 2020-06 \| 2025 Notes \| Convertible debt \| Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt discount amortization reclassification, net of tax	$ 4,400

Accrued and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Schedule of accrued and other current liabilities

Accrued and other current liabilities consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022

Accrued payroll and other compensation	$	98,903	$	84,075
Accrued insurance	19,310		20,932
Other current liabilities (1)	137,601		112,420
	$	255,814	$	217,427

________________

(1)During 2023, other current liabilities increased primarily due to increased accrued advertising expense.

Earnings Per Share (Antidilutive Securities) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in the computation of earnings per share (in shares)	521	1,849	751
Nonvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in the computation of earnings per share (in shares)	35	192	128
Nonvested performance-based share units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities not included in the computation of earnings per share (in shares)	368	461	377

Stock-based and Deferred Compensation Plans (Stock Option Activity - Table) (Details) - Stock options - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]

Outstanding as of December 25, 2022 (shares)

3,188,000

Exercised (shares)

(1,455,000)

Forfeited or expired (shares)

(8,000)

Outstanding as of December 31, 2023 (shares)

1,725,000

^[1]

3,188,000

Exercisable as of December 31, 2023 (shares)

^[1]

1,725,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]

Outstanding as of December 25, 2022 (per share)

$ 21.43

Exercised (per share)

21.86

Forfeited or expired (per share)

25.35

Outstanding as of December 31, 2023 (per share)

21.04

$ 21.43

Exercisable as of December 31, 2023 (per share)

$ 21.04

Share-based compensation arrangement by share-based payment award, options, outstanding, weighted average remaining contractual term

3 years 2 months 12 days

4 years

Share-based compensation arrangement by share-based payment award, options, exercisable, weighted average remaining contractual term

3 years 2 months 12 days

Outstanding intrinsic value

$ 12,263

$ 3,337

Exercisable intrinsic value

$ 12,263

Granted (shares)

[1]	No stock options were granted during 2023.

Segment Reporting

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

The Company considers each of its restaurant concepts and international markets as operating segments, which reflects how the Company manages its business, reviews operating performance and allocates resources. Resources are allocated and performance is assessed by the Company’s Chief Executive Officer, whom the Company has determined to be its CODM. The Company aggregates its operating segments into two reportable segments, U.S. and international. The U.S. segment includes all restaurants operating in the U.S. while restaurants operating outside the U.S. are included in the international segment.

The following is a summary of reporting segments:

REPORTABLE SEGMENT (1)

CONCEPT

GEOGRAPHIC LOCATION

U.S.

Outback Steakhouse

United States of America

Carrabba’s Italian Grill

Bonefish Grill

Fleming’s Prime Steakhouse & Wine Bar

International

Outback Steakhouse

Brazil, Hong Kong/China

Carrabba’s Italian Grill (Abbraccio)

Brazil

_________________

(1)Includes franchise locations.

Segment accounting policies are the same as those described in Note 2 - Summary of Significant Accounting Policies. Revenues for all segments include only transactions with customers and exclude intersegment revenues. Excluded from Income from operations for U.S. and international are certain legal and corporate costs not directly

related to the performance of the segments, most stock-based compensation expenses, a portion of insurance expenses and certain bonus expenses.

The following table details Total revenues by segment and major geographic area for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
U.S.	$	4,053,599	$	3,911,870	$	3,759,981
International (1)
Brazil	529,670		448,411		297,167
Other	88,201		56,227		65,237
Total revenues	$	4,671,470	$	4,416,508	$	4,122,385

_________________

(1)International revenues are defined as revenues generated from restaurant sales originating in a country other than the U.S.

The following table is a summary of Depreciation and amortization expense by segment for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Depreciation and amortization
U.S.	$	157,878	$	139,170	$	134,243
International	25,430		23,397		22,649
Corporate	7,863		7,050		6,499
Total depreciation and amortization	$	191,171	$	169,617	$	163,391

The following table is a reconciliation of segment income from operations to Income before provision for income taxes for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Segment income from operations
U.S.	$	377,534	$	407,860	$	443,887
International	83,948		57,333		16,657
Total segment income from operations	461,482		465,193		460,544
Unallocated corporate operating expense	(136,338)		(134,772)		(151,586)
Total income from operations	325,144		330,421		308,958
Loss on extinguishment and modification of debt	—		(107,630)		(2,073)
Loss on fair value adjustment of derivatives, net	—		(17,685)		—

Interest expense, net	(52,169)		(53,199)		(57,588)
Income before provision for income taxes	$	272,975	$	151,907	$	249,297

The following table is a summary of capital expenditures by segment for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Capital expenditures
U.S.	$	276,660	$	196,163	$	103,303
International	45,542		28,647		14,074
Corporate	11,961		11,709		9,035
Total capital expenditures	$	334,163	$	236,519	$	126,412

The following table sets forth Total assets by segment as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Assets
U.S.	$	2,703,751	$	2,669,953
International	457,692		400,052
Corporate	262,638		250,420
Total assets	$	3,424,081	$	3,320,425

Geographic areas — International assets are defined as assets residing in a country other than the U.S. The following table details long-lived assets, excluding goodwill, operating lease right-of-use assets, intangible assets and deferred tax assets, by major geographic area as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
U.S.	$	980,731	$	891,379
International
Brazil	128,854		93,972
Other	7,524		10,938
Total long-lived assets	$	1,117,109	$	996,289

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Derivative Instruments and Hedging Activities (Effects of Interest Rate Swap) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 25, 2022	Dec. 26, 2021	Dec. 31, 2023
Derivative [Line Items]
OCI, cash flow hedge, reclassification for discontinuance, statement of income or comprehensive income [Extensible Enumeration]	Interest expense, net	Interest expense, net
Designated as hedging instrument \| Interest rate swap
Derivative [Line Items]
Interest rate swap expense recognized in Interest expense, net	$ (1,284)	$ (9,951)
Income tax benefit recognized in Provision for income taxes	330	2,559
Net effects of interest rate swap agreements	(954)	(7,392)
Terminated interest rate swap expense recognized in Interest expense, net	(12,115)	(6,160)
Income tax benefit recognized in Provision for income taxes	3,133	1,584
Net effects of terminated interest rate swap agreements	(8,982)	(4,576)
Total net effects on Net income	$ (9,936)	$ (11,968)
Derivative, net liability position, aggregate fair value			$ 800
Termination value			$ 800

Long-term Debt, Net (2029 Notes Narrative) (Details) - 2029 Notes - Unsecured debt - USD ($)	Apr. 16, 2021	Dec. 31, 2023	Dec. 25, 2022
Debt instrument [Line Items]
Debt instrument, face amount	$ 300,000,000
Long-term debt, maturity date	Apr. 15, 2029
Interest rate, stated percentage, floor	5.125%	5.13%	5.13%
Debt instrument, redemption, equity offering redemption option
Debt instrument [Line Items]
Debt instrument, redemption price, percentage	105.125%
Debt instrument, redemption, early redemption option
Debt instrument [Line Items]
Debt instrument, redemption price, percentage	100.00%
Maximum \| Debt instrument, redemption, equity offering redemption option
Debt instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed	40.00%

Other Current Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Other Assets [Abstract]

Schedule of other current assets, net

Other current assets, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Prepaid expenses	$	26,674	$	29,343
Accounts receivable - gift cards, net (1)	67,424		85,606
Accounts receivable - vendors, net (1)	13,648		25,385
Accounts receivable - franchisees, net (1)	3,671		2,550
Accounts receivable - other, net (1)	18,100		18,408
Deferred gift card sales commissions	18,081		17,755

Other current assets, net	5,404		4,671
	$	153,002	$	183,718

________________

(1)See Note 19 - Allowance for Expected Credit Losses for a rollforward of the related allowance for expected credit losses.

Fair Value Measurements (Carrying Value and Fair Value of Debt by Hierarchy Level) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Secured debt \| Senior Secured Credit Facility \| Fair value, inputs, level 2 \| Revolving credit facility
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 381,000	$ 430,000
Secured debt \| Senior Secured Credit Facility \| Carrying value measurement \| Revolving credit facility
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	381,000	430,000
Convertible debt \| 2025 Notes \| Fair value, inputs, level 2
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	265,896	198,843
Convertible debt \| 2025 Notes \| Carrying value measurement
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	104,786	105,000
Unsecured debt \| 2029 Notes \| Fair value, inputs, level 2
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	277,809	260,265
Unsecured debt \| 2029 Notes \| Carrying value measurement
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 300,000	$ 300,000

Convertible Senior Notes (Tables)

12 Months Ended

Dec. 31, 2023

Convertible Notes [Abstract]

Convertible senior notes balances

The following table includes the outstanding principal amount and carrying value of the 2025 Notes as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Principal	$	104,786	$	105,000

Less: unamortized debt issuance costs	(1,138)		(1,939)
Net carrying amount	$	103,648	$	103,061

Convertible senior notes interest expense

Following is a summary of interest expense for the 2025 Notes, by component for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Coupon interest	$	5,242	$	8,080	$	11,500

Debt issuance cost amortization	798		1,156		1,557
Total interest expense (1)	$	6,040	$	9,236	$	13,057

________________

(1)The effective rate of the 2025 Notes over their expected life is 5.85%.

Segment Reporting (Income from Operations Reconciliation - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	$ 325,144	$ 330,421	$ 308,958
Loss on extinguishment and modification of debt	0	(107,630)	(2,073)
Loss on fair value adjustment of derivatives, net	0	(17,685)	0
Interest expense, net	(52,169)	(53,199)	(57,588)
Income before provision for income taxes	272,975	151,907	249,297
Operating segments
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	461,482	465,193	460,544
Operating segments \| U.S. segment
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	377,534	407,860	443,887
Operating segments \| International segment
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	83,948	57,333	16,657
Corporate
Segment Reporting, Reconciling Item for Operating Profit from Segment to Consolidated [Line Items]
Income from operations	$ (136,338)	$ (134,772)	$ (151,586)

Commitments and Contingencies (Purchase Obligations - Text) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) supplier	Dec. 25, 2022 USD ($)
Concentration Risk [Line Items]
Purchase obligations \| $	$ 196.8	$ 226.6
Long-term purchase commitment, period	3 years
Number of primary beef suppliers	4
Brazil
Concentration Risk [Line Items]
Concentration risk, number of suppliers, pork	4
Minimum \| Brazil
Concentration Risk [Line Items]
Percentage of marketplace, pork	45.00%
Minimum \| Beef \| Supplier concentration risk \| Cost of goods and service, segment benchmark
Concentration Risk [Line Items]
Concentration risk, percentage	95.00%
Minimum \| Pork \| Supplier concentration risk \| Cost of goods and service, segment benchmark \| Brazil
Concentration Risk [Line Items]
Concentration risk, percentage	80.00%

Accrued and Other Current Liabilities (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Payables and Accruals [Abstract]

Accrued payroll and other compensation

$ 98,903

$ 84,075

Accrued insurance

19,310

20,932

Other current liabilities

137,601

^[1]

112,420

Accrued and other liabilities, current

$ 255,814

$ 217,427

[1]	During 2023, other current liabilities increased primarily due to increased accrued advertising expense.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Fair value measurements, recurring and nonrecurring, valuation techniques

Fair value is categorized into one of the following three levels based on the lowest level of significant input:


Level 1			Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2			Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3			Unobservable inputs that cannot be corroborated by observable market data

Property, fixtures and equipment, useful lives

Estimated useful lives by major asset category are generally as follows:


Buildings (1)			5 to 30 years
Furniture and fixtures			5 to 7 years
Equipment			2 to 7 years

Computer equipment and software			2 to 7 years

____________________

(1)Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Property, fixtures and equipment, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Land	$	34,654	$	37,596
Buildings	1,269,214		1,223,403
Furniture and fixtures	526,192		489,895
Equipment	830,644		739,136
Construction in progress	78,949		41,723
Less: accumulated depreciation	(1,707,731)		(1,617,611)
	$	1,031,922	$	914,142

Schedule of material reclassification adjustments from the adoption of ASU 2020-06

The Company adopted ASU No. 2020-06 using the modified retrospective approach which resulted in a cumulative-effect adjustment that increased (decreased) the following Consolidated Balance Sheet accounts during the first quarter of 2021:


ADJUSTMENT	CONSOLIDATED BALANCE SHEET CLASSIFICATION	AMOUNT (dollars in millions)
Deferred tax impact of cumulative-effect adjustment	Deferred income tax assets, net	$	14.9
Debt discount reclassification	Long-term debt, net	$	59.9
Equity issuance costs reclassification	Long-term debt, net	$	(2.1)
Debt discount amortization reclassification, net of tax	Accumulated deficit	$	4.4
Reversal of separated equity component, net of tax	Additional paid-in capital	$	(47.3)

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Stockholders' Equity Note [Abstract]

Schedule of repurchases of common stock

Following is a summary of the shares repurchased during fiscal year 2023:


(in thousands, except per share data)	NUMBER OF SHARES	AVERAGE REPURCHASE PRICE PER SHARE	AMOUNT


First fiscal quarter	863			$	23.92	$	20,645
Second fiscal quarter	619			$	25.11	15,539
Third fiscal quarter	590			$	27.03	15,956
Fourth fiscal quarter	735			$	24.29	17,860
Total common stock repurchases (1)	2,807			$	24.93	$	70,000

________________

Dividends declared and paid

The Company declared and paid dividends per share during the periods presented as follows:


	DIVIDENDS PER SHARE		AMOUNT
	FISCAL YEAR		FISCAL YEAR
(dollars in thousands, except per share data)	2023		2022		2023		2022
First fiscal quarter	$	0.24	$	0.14	$	21,014	$	12,559
Second fiscal quarter	0.24		0.14		20,990		12,418
Third fiscal quarter	0.24		0.14		20,901		12,475
Fourth fiscal quarter	0.24		0.14		20,837		12,284
Total cash dividends declared and paid	$	0.96	$	0.56	$	83,742	$	49,736

Schedule of accumulated other comprehensive loss

Following are the components of AOCL as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Foreign currency translation adjustment	$	(177,689)	$	(185,311)
Unrealized loss on derivatives, net of tax	(615)		—
Accumulated other comprehensive loss	$	(178,304)	$	(185,311)

Other comprehensive income

Following are the components of Other comprehensive income attributable to Bloomin’ Brands for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021

Foreign currency translation adjustment	$	7,622	$	10,169	$	(6,597)


Change in fair value of derivatives, net of tax	(606)		573		86
Reclassification realized in Net income, net of tax (1)	(9)		954		7,392
Impact of terminated interest rate swaps included in Net income, net of tax (1)	—		8,982		4,576
(Loss) gain on derivatives, net of tax	(615)		10,509		12,054
Other comprehensive income attributable to Bloomin’ Brands	$	7,007	$	20,678	$	5,457

________________

(1)See Note 16 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications and the terminated swaps.

Summary of Significant Accounting Policies (Fiscal Year) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Fiscal Year [Line Items]
Restaurant sales, franchise and other revenues		$ 4,671,470	$ 4,416,508	$ 4,122,385
Diluted (in USD per share)		$ 2.56	$ 1.03	$ 2.00
53rd week impact
Fiscal Year [Line Items]
Restaurant sales, franchise and other revenues	$ 83,500
Diluted (in USD per share)	$ 0.15

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 15: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets, Net

Goodwill - The following table is a rollforward of goodwill for the periods indicated:


(dollars in thousands)	U.S.		INTERNATIONAL		CONSOLIDATED
Balance as of December 26, 2021	$	170,657	$	97,787	$	268,444

Translation adjustments	—		4,588		4,588


Balance as of December 25, 2022	170,657		102,375		273,032

Translation adjustments	—		3,285		3,285




Balance as of December 31, 2023	$	170,657	$	105,660	$	276,317

The following table is a summary of the Company’s gross goodwill balances and accumulated impairments as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022				DECEMBER 26, 2021
(dollars in thousands)	GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS		GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS		GROSS CARRYING AMOUNT		ACCUMULATED IMPAIRMENTS
U.S.	$	838,827	$	(668,170)	$	838,827	$	(668,170)	$	838,827	$	(668,170)
International	225,543		(119,883)		222,258		(119,883)		217,670		(119,883)
Total goodwill	$	1,064,370	$	(788,053)	$	1,061,085	$	(788,053)	$	1,056,497	$	(788,053)

The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets each year during the second quarter. The Company’s 2023 assessment was quantitative and the 2022 and 2021 assessments were qualitative. As a result of these assessments, the Company did not record any goodwill asset impairment charges during 2023, 2022 or 2021.

Intangible Assets, net - Intangible assets, net, consisted of the following as of the periods indicated:


	WEIGHTED AVERAGE REMAINING AMORTIZATION PERIOD (in years)	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)		GROSS CARRYING VALUE		ACCUMULATED AMORTIZATION		NET CARRYING VALUE		GROSS CARRYING VALUE		ACCUMULATED AMORTIZATION		NET CARRYING VALUE
Trade names	Indefinite	$	414,716			$	414,716	$	414,716			$	414,716
Trademarks	5	81,952		$	(63,752)	18,200		81,952		$	(59,675)	22,277


Reacquired franchise rights (1)	8	36,506		(26,437)		10,069		34,602		(23,269)		11,333

Total intangible assets	6	$	533,174	$	(90,189)	$	442,985	$	531,270	$	(82,944)	$	448,326

________________

(1)Included within Outback Steakhouse - Brazil.

The Company did not record any intangible asset impairment charges during the periods presented.

The following table presents goodwill, trade names and trademarks balances by reporting unit as of the periods indicated:


	DECEMBER 31, 2023						DECEMBER 25, 2022
(dollars in thousands)	GOODWILL		TRADE NAMES		TRADEMARKS		GOODWILL		TRADE NAMES		TRADEMARKS
Outback Steakhouse	$	123,188	$	287,000	$	—	$	123,188	$	287,000	$	—
Carrabba’s Italian Grill	18,826		69,000		—		18,826		69,000		—
Bonefish Grill	28,188		—		9,788		28,188		—		12,618
Fleming’s Prime Steakhouse & Wine Bar	455		—		8,412		455		—		9,407
U.S. total	170,657		356,000		18,200		170,657		356,000		22,025
Outback Steakhouse - Brazil	62,994		—		—		59,709		—		252
International - Franchise	42,666		58,716		—		42,666		58,716		—
International total	105,660		58,716		—		102,375		58,716		252
Total	$	276,317	$	414,716	$	18,200	$	273,032	$	414,716	$	22,277

Definite-lived intangible assets are amortized on a straight-line basis. The following table presents the aggregate expense related to the amortization of the Company’s trademarks and reacquired franchise rights for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Amortization expense	$	5,984	$	6,172	$	6,005

The following table presents expected annual amortization of intangible assets as of December 31, 2023:


(dollars in thousands)
2024	$	5,738
2025	$	5,470
2026	$	5,374
2027	$	3,624
2028	$	2,076

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Pay vs Performance Disclosure
Net income attributable to Bloomin’ Brands	$ 247,386	$ 101,907	$ 215,555

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Description of the Business (Details)	Dec. 31, 2023 restaurantConcept
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of restaurant concepts in portfolio	4

Stock-based and Deferred Compensation Plans (PSU - Text) (Details) - Performance-based share units	12 Months Ended
	Dec. 31, 2023 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement By share-based payment award, total shareholder return modifier, option 1	75.00%
Share-based compensation arrangement by share-based payment award, total shareholder return modifier, option 2	100.00%
Share-based compensation arrangement by share-based payment award, total shareholder return modifier, option 3	125.00%
Vesting period	3 years
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares that would be issued on vesting of stock units	1
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting rights, percentage	200.00%

Leases (Lessee, Lease Assets and Liabilities) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Leases [Abstract]

Operating lease right-of-use assets

$ 1,084,951

$ 1,103,083

Finance lease right-of-use assets

^[1]

$ 9,941

$ 4,679

Finance lease, right-of-use asset, statement of financial position [Extensible Enumeration]

Property, fixtures and equipment, net

Total lease assets, net

$ 1,094,892

$ 1,107,762

Current operating lease liabilities

175,442

183,510

Current finance lease liabilities

$ 3,197

$ 1,636

Finance lease, liability, current, statement of financial position [Extensible Enumeration]

Accrued and other current liabilities

Non-current operating lease liabilities

$ 1,131,639

$ 1,148,379

^[2]

Non-current finance lease liabilities

$ 7,414

$ 3,149

Finance lease, liability, noncurrent, statement of financial position [Extensible Enumeration]

Other long-term liabilities, net

Total lease liabilities

$ 1,317,692

$ 1,336,674

Accumulated amortization

$ 4,700

$ 3,600

[1]	Net of accumulated amortization of $4.7 million and $3.6 million as December 31, 2023 and December 25, 2022, respectively.
[2]	For 2022, excludes immaterial COVID-19-related deferred rent accruals.

Leases (Lease Term and Discount Rate) (Details)

Dec. 31, 2023

Dec. 25, 2022

Leases [Abstract]

Operating lease, weighted average remaining lease term

^[1]

13 years 1 month 6 days

13 years 2 months 12 days

Finance lease, weighted average remaining lease term

^[1]

9 years 6 months

5 years 4 months 24 days

Operating lease, weighted average discount rate, percent

^[2]

8.50%

8.44%

Finance lease, weighted average discount rate, percent

^[2]

8.11%

6.63%

[1]	Includes lease renewal options that are reasonably certain of exercise.
[2]	Based on the Company’s incremental borrowing rate at lease commencement or lease remeasurement.

Stock-based and Deferred Compensation Plans

12 Months Ended

Dec. 31, 2023

Disclosure of Compensation Related Costs, Share-based Payments and Deferred Compensation [Abstract]

Stock-based and Deferred Compensation Plans

Stock-based Compensation Plans

The Company recognized stock-based compensation expense, net of capitalized expense, as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Performance-based share units (1)	$	3,089	$	8,176	$	13,821
Restricted stock units	7,910		7,687		8,184
Stock options	835		503		2,286
Total stock-based compensation expense, net of capitalized expense	$	11,834	$	16,366	$	24,291

________________

(1)For 2023 and 2022, includes a cumulative life-to-date adjustment to decrease expense for PSUs granted in fiscal years 2022 and 2020, respectively, based on revised Company projections of performance criteria set forth in the award agreements. For 2021, includes a cumulative life-to-date adjustment to increase expense for PSUs granted in fiscal years 2019, 2020 and 2021 based on Company performance against criteria set forth in the award agreements.

Performance-based Share Units - The number of PSUs that vest is determined for each year based on the achievement of certain performance criteria as set forth in the award agreement and may range from zero to 200% of the annual target grant. The PSUs are settled in shares of common stock, with holders receiving one share of common stock for each performance-based share unit that vests. Compensation expense for PSUs is recognized over the vesting period when it is probable the performance criteria will be achieved.

The following table presents a summary of the Company’s PSU activity:


(in thousands, except per unit data)	PERFORMANCE-BASED SHARE UNITS	WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT		AGGREGATE INTRINSIC VALUE (1)
Outstanding as of December 25, 2022	874	$	24.83	$	18,323
Granted	301	$	29.01
Performance adjustment (2)	154	$	19.84
Vested	(470)	$	19.84
Forfeited	(41)	$	26.48
Outstanding as of December 31, 2023	818	$	26.92	$	23,026
Expected to vest as of December 31, 2023 (3)	765			$	21,410

________________

(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

(2)Represents adjustment to 148% payout for PSUs granted during 2020.

(3)Estimated number of units to be issued upon the vesting of outstanding PSUs based on Company performance projections of performance criteria set forth in the 2021, 2022 and 2023 PSU award agreements.

The Company grants PSUs subject to final payout modification by a Relative TSR modifier. This Relative TSR modifier can adjust the final payout outcome by 75%, 100% or 125% of the achieved performance metric, with the overall payout capped at 200% of the annual target grant. These PSUs have a three-year cliff vesting period and their fair value was estimated using the Monte Carlo simulation model. The Monte Carlo simulation model utilizes multiple input variables to estimate the probability that the market conditions will be achieved and is applied to the closing price of the Company’s common stock on the date of the grant.

Assumptions used in the Monte Carlo simulation model and the grant date fair value of PSUs granted were as follows for the periods indicated:


	FISCAL YEAR
	2023			2022			2021
Assumptions:
Risk-free interest rate (1)	4.26		%	1.64		%	0.20		%
Dividend yield (2)	3.47		%	2.31		%	—		%

Volatility (3)	51.02		%	49.11		%	48.45		%

Grant date fair value per unit (4)	$	29.01		$	26.10		$	29.73

________________

(1)Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit.

(2)Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term.

(3)Based on the historical volatility of the Company’s stock over the last seven years.

(4)Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7%, 7.9% and 14.3% for grants during 2023, 2022 and 2021, respectively.

The following represents PSU compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021


Intrinsic value for PSUs vested	$	12,908	$	7,626	$	3,768
Grant date fair value of PSUs vested	$	9,332	$	6,646	$	3,401
Tax benefits for PSU compensation expense	$	745	$	348	$	134

Unrecognized PSU expense	$	6,520
Remaining weighted average vesting period	1.2 years

Restricted Stock Units (“RSUs”) - RSUs generally vest over a period of three years in an equal number of shares each year. Following is a summary of the Company’s RSU activity:


(in thousands, except per unit data)	RESTRICTED STOCK UNITS	WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT		AGGREGATE INTRINSIC VALUE (1)
Outstanding as of December 25, 2022	657	$	21.72	$	13,776
Granted	406	$	24.18
Vested	(393)	$	21.02
Forfeited	(39)	$	24.15
Outstanding as of December 31, 2023 (2)	631	$	23.58	$	17,757

________________

(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

(2)All RSUs outstanding as of December 31, 2023 are expected to vest.

The following represents RSU compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands, except grant date fair value data)	2023		2022		2021
Weighted average grant date fair value for RSUs granted (1)	$	24.18	$	21.59	$	25.93

Intrinsic value of RSUs vested	$	10,275	$	9,070	$	13,482
Grant date fair value of RSUs vested	$	8,257	$	8,025	$	9,434
Tax benefits for RSU compensation expense	$	1,528	$	1,113	$	1,592

Unrecognized RSU expense	$	9,315
Remaining weighted average vesting period	1.9 years

________________

(1)The weighted average dividend yield was 3.63% and 2.43% for 2023 and 2022, respectively. There were no dividends in 2021.

Stock Options - Stock options generally vest and become exercisable over a period of four years in an equal number of shares each year. Stock options have an exercisable life of no more than ten years from the date of grant. The Company settles stock option exercises with authorized but unissued shares of the Company’s common stock.

The following table presents a summary of the Company’s stock option activity:


(in thousands, except exercise price and contractual life data)	OPTIONS	WEIGHTED AVERAGE EXERCISE PRICE		WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)	AGGREGATE INTRINSIC VALUE
Outstanding as of December 25, 2022	3,188	$	21.43	4.0	$	3,337

Exercised	(1,455)	$	21.86
Forfeited or expired	(8)	$	25.35
Outstanding and exercisable as of December 31, 2023 (1)	1,725	$	21.04	3.2	$	12,263

________________

(1)No stock options were granted during 2023.

The following represents stock option compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Intrinsic value of options exercised	$	6,200	$	6,367	$	8,419

Cash received from option exercises, net of tax withholding	$	31,778	$	17,888	$	14,951
Grant date fair value of stock options vested	$	1,037	$	7,645	$	19,246
Tax benefits for stock option compensation expense	$	757	$	1,495	$	1,942

As of December 31, 2023, the maximum number of shares of common stock available for issuance for equity instruments pursuant to the 2020 Omnibus Incentive Compensation Plan was 6,925,256.

Deferred Compensation Plans

401(k) Plan - The Company has a qualified defined contribution plan that qualifies under Section 401(k) of the Internal Revenue Code of 1986, as amended. The Company incurred contribution costs of $5.6 million, $5.6 million and $6.1 million for the 401(k) Plan for 2023, 2022 and 2021, respectively.

Highly Compensated Employee Plan - The Company provides a deferred compensation plan for its highly compensated employees who are not eligible to participate in the 401(k) Plan. The deferred compensation plan allows these employees to contribute a percentage of their base salary and cash bonus on a pre-tax basis. The deferred compensation plan is unsecured and funded through the Company’s voluntary contributions.

Revenue Recognition (Contract Assets and Liabilities - Deferred Gift Card Revenue Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Revenue Recognition [Line Items]
Balance, beginning of the period	$ 394,215
Balance, end of the period	381,877	$ 394,215
Deferred gift card revenue
Revenue Recognition [Line Items]
Balance, beginning of the period	386,495	387,945	$ 373,048
Gift card sales	328,307	326,603	330,841
Gift card redemptions	(321,057)	(310,017)	(298,397)
Gift card breakage	(19,471)	(18,036)	(17,547)
Balance, end of the period	$ 374,274	$ 386,495	$ 387,945

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	CONSOLIDATED BALANCE SHEET CLASSIFICATION	DECEMBER 31, 2023		DECEMBER 25, 2022
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,084,951	$	1,103,083
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	9,941		4,679


Total lease assets, net		$	1,094,892	$	1,107,762

Current operating lease liabilities	Current operating lease liabilities	$	175,442	$	183,510
Current finance lease liabilities	Accrued and other current liabilities	3,197		1,636
Non-current operating lease liabilities (2)	Non-current operating lease liabilities	1,131,639		1,148,379
Non-current finance lease liabilities	Other long-term liabilities, net	7,414		3,149
Total lease liabilities		$	1,317,692	$	1,336,674

________________

(1)Net of accumulated amortization of $4.7 million and $3.6 million as December 31, 2023 and December 25, 2022, respectively.

(2)For 2022, excludes immaterial COVID-19-related deferred rent accruals.

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:


	CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION	FISCAL YEAR
(dollars in thousands)		2023		2022		2021
Operating lease cost (1)	Other restaurant operating	$	182,361	$	182,091	$	178,733
Variable lease cost (2)	Other restaurant operating	7,467		6,508		4,350
Finance lease costs:
Amortization of leased assets	Depreciation and amortization	2,252		1,420		1,079
Interest on lease liabilities	Interest expense, net	694		172		129
Sublease revenue	Franchise and other revenues	(7,665)		(9,016)		(9,396)
Lease costs, net		$	185,109	$	181,175	$	174,895

________________

(2)Includes COVID-19-related rent abatements in 2021.

As of December 31, 2023, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:


(dollars in thousands)	OPERATING LEASES		FINANCE LEASES		SUBLEASE REVENUES
2024 (1)	$	182,732	$	3,311	$	(5,893)
2025	185,309		1,859		(5,421)
2026	183,345		1,392		(5,356)
2027	174,157		1,275		(5,362)
2028	166,173		697		(5,416)
Thereafter	1,397,122		7,393		(33,888)
Total minimum lease payments (receipts) (2)	2,288,838		15,927		$	(61,336)
Less: Interest	(981,757)		(5,316)
Present value of future lease payments	$	1,307,081	$	10,611

____________________

(1)Net of operating lease prepaid rent of $15.2 million.

(2)Includes $945.4 million related to operating lease renewal options that are reasonably certain of exercise and excludes $216.7 million of signed operating leases that have not yet commenced.

The following table is a summary of the weighted average remaining lease terms and weighted average discount rates of the Company’s leases as of the periods indicated:


	DECEMBER 31, 2023		DECEMBER 25, 2022
Weighted average remaining lease term (1):
Operating leases	13.1 years		13.2 years
Finance leases	9.5 years		5.4 years
Weighted average discount rate (2):
Operating leases	8.50	%	8.44	%
Finance leases	8.11	%	6.63	%

____________________

(1)Includes lease renewal options that are reasonably certain of exercise.

(2)Based on the Company’s incremental borrowing rate at lease commencement or lease remeasurement.

The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	197,394	$	193,822	$	205,253

Leases

The following table includes a detail of lease assets and liabilities included on the Company’s Consolidated Balance Sheets as of the periods indicated:


(dollars in thousands)	CONSOLIDATED BALANCE SHEET CLASSIFICATION	DECEMBER 31, 2023		DECEMBER 25, 2022
Operating lease right-of-use assets	Operating lease right-of-use assets	$	1,084,951	$	1,103,083
Finance lease right-of-use assets (1)	Property, fixtures and equipment, net	9,941		4,679


Total lease assets, net		$	1,094,892	$	1,107,762

Current operating lease liabilities	Current operating lease liabilities	$	175,442	$	183,510
Current finance lease liabilities	Accrued and other current liabilities	3,197		1,636
Non-current operating lease liabilities (2)	Non-current operating lease liabilities	1,131,639		1,148,379
Non-current finance lease liabilities	Other long-term liabilities, net	7,414		3,149
Total lease liabilities		$	1,317,692	$	1,336,674

________________

(1)Net of accumulated amortization of $4.7 million and $3.6 million as December 31, 2023 and December 25, 2022, respectively.

(2)For 2022, excludes immaterial COVID-19-related deferred rent accruals.

Following is a summary of expenses and income related to leases recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income for the periods indicated:


	CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION	FISCAL YEAR
(dollars in thousands)		2023		2022		2021
Operating lease cost (1)	Other restaurant operating	$	182,361	$	182,091	$	178,733
Variable lease cost (2)	Other restaurant operating	7,467		6,508		4,350
Finance lease costs:
Amortization of leased assets	Depreciation and amortization	2,252		1,420		1,079
Interest on lease liabilities	Interest expense, net	694		172		129
Sublease revenue	Franchise and other revenues	(7,665)		(9,016)		(9,396)
Lease costs, net		$	185,109	$	181,175	$	174,895

________________

(2)Includes COVID-19-related rent abatements in 2021.

As of December 31, 2023, future minimum lease payments and sublease revenues under non-cancelable leases are as follows:


(dollars in thousands)	OPERATING LEASES		FINANCE LEASES		SUBLEASE REVENUES
2024 (1)	$	182,732	$	3,311	$	(5,893)
2025	185,309		1,859		(5,421)
2026	183,345		1,392		(5,356)
2027	174,157		1,275		(5,362)
2028	166,173		697		(5,416)
Thereafter	1,397,122		7,393		(33,888)
Total minimum lease payments (receipts) (2)	2,288,838		15,927		$	(61,336)
Less: Interest	(981,757)		(5,316)
Present value of future lease payments	$	1,307,081	$	10,611

____________________

(1)Net of operating lease prepaid rent of $15.2 million.

(2)Includes $945.4 million related to operating lease renewal options that are reasonably certain of exercise and excludes $216.7 million of signed operating leases that have not yet commenced.

The following table is a summary of the weighted average remaining lease terms and weighted average discount rates of the Company’s leases as of the periods indicated:


	DECEMBER 31, 2023		DECEMBER 25, 2022
Weighted average remaining lease term (1):
Operating leases	13.1 years		13.2 years
Finance leases	9.5 years		5.4 years
Weighted average discount rate (2):
Operating leases	8.50	%	8.44	%
Finance leases	8.11	%	6.63	%

____________________

(1)Includes lease renewal options that are reasonably certain of exercise.

(2)Based on the Company’s incremental borrowing rate at lease commencement or lease remeasurement.

The following table is a summary of cash flow impacts to the Company’s Consolidated Financial Statements related to its leases for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021

Cash flows from operating activities:
Cash paid for amounts included in the measurement of operating lease liabilities	$	197,394	$	193,822	$	205,253

Summary of Significant Accounting Policies (Principles of Consolidation) (Details)	Dec. 31, 2023 restaurant
Minimum \| Equity method investment
Principles of Consolidation [Line Items]
Equity method investment, ownership percentage	20.00%
Maximum \| Equity method investment
Principles of Consolidation [Line Items]
Equity method investment, ownership percentage	50.00%
Franchised units
Principles of Consolidation [Line Items]
Number of restaurants	291

Long-term Debt, Net (Schedule of Long-Term Debt, Net) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Apr. 16, 2021

May 08, 2020

Debt instrument [Line Items]

Less: unamortized debt discount and issuance costs

$ (5,067)

$ (6,493)

Long-term debt, net

780,719

828,507

Secured debt | Revolving credit facility | Senior Secured Credit Facility

Debt instrument [Line Items]

Senior secured credit facility - revolving credit facility

$ 381,000

$ 430,000

Debt instrument, effective interest rate

^[1]

6.96%

5.79%

Convertible debt | 2025 Notes

Debt instrument [Line Items]

Long-term debt, gross

$ 104,786

$ 105,000

Debt instrument, effective interest rate

5.85%

Interest rate, stated percentage, floor

5.00%

Unsecured debt | 2029 Notes

Debt instrument [Line Items]

Long-term debt, gross

$ 300,000

Interest rate, stated percentage, floor

5.13%

5.125%

[1]	Interest rate represents the weighted average interest rate as of the respective periods.

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of earnings per share, basic and diluted

The following table presents the computation of basic and diluted earnings per share for the periods indicated:


	FISCAL YEAR
(in thousands, except per share data)	2023		2022		2021
Net income attributable to Bloomin’ Brands	$	247,386	$	101,907	$	215,555


Convertible senior notes if-converted method interest adjustment, net of tax (1)	—		—		345
Diluted net income attributable to Bloomin’ Brands	$	247,386	$	101,907	$	215,900

Basic weighted average common shares outstanding	87,230		88,846		88,981

Effect of dilutive securities:
Stock options	381		261		779
Nonvested restricted stock units	203		182		355
Nonvested performance-based share units	183		180		61
Convertible senior notes (1)(2)	5,067		6,089		11,377
Warrants (2)	3,389		2,954		6,250
Diluted weighted average common shares outstanding	96,453		98,512		107,803

Basic earnings per share	$	2.84	$	1.15	$	2.42
Diluted earnings per share	$	2.56	$	1.03	$	2.00

________________

(2)During 2022, the Company repurchased $125.0 million of the 2025 Notes and settled the corresponding portion of the related warrants. See Note 13 - Convertible Senior Notes for additional details.

Schedule of antidilutive securities excluded from computation of earnings per share


	FISCAL YEAR
(shares in thousands)	2023	2022	2021
Stock options	521	1,849	751
Nonvested restricted stock units	35	192	128
Nonvested performance-based share units	368	461	377

Income Taxes (Effective Income Tax Rate - Table) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Tax Disclosure [Abstract]
Income taxes at federal statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of federal benefit	3.40%	7.30%	3.80%
Employment-related credits, net	(13.50%)	(22.40%)	(13.20%)
Brazil tax legislation	(7.70%)	0.20%	0.00%
Income tax exemption on certain Brazil state value added tax benefits	(1.80%)	0.00%	0.00%
Net changes in deferred tax valuation allowances	(0.80%)	(2.80%)	(0.70%)
Non-deductible loss on 2025 Notes Partial Repurchase	0.00%	18.00%	0.00%
Non-deductible expenses	2.70%	2.80%	2.30%
Foreign tax rate differential	2.10%	2.30%	(0.20%)
U.S. tax on foreign earnings - GILTI	1.80%	1.60%	0.00%
Tax settlements and related adjustments	0.10%	(0.10%)	(1.70%)
Other, net	(0.50%)	0.20%	(0.70%)
Total	6.80%	28.10%	10.60%

Goodwill and Intangible Assets, Net (Goodwill Rollforward - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022
Goodwill [Roll Forward]
Balance as of beginning of the year	$ 273,032	$ 268,444
Goodwill, translation adjustments	3,285	4,588
Balance as of end of the year	276,317	273,032
U.S. segment
Goodwill [Roll Forward]
Balance as of beginning of the year	170,657	170,657
Goodwill, translation adjustments	0	0
Balance as of end of the year	170,657	170,657
International segment
Goodwill [Roll Forward]
Balance as of beginning of the year	102,375	97,787
Goodwill, translation adjustments	3,285	4,588
Balance as of end of the year	$ 105,660	$ 102,375

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Stockholders' Equity (Share Repurchases) (Details) - USD ($)
$ / shares in Units, shares in Thousands

2 Months Ended

3 Months Ended

12 Months Ended

Feb. 28, 2024

Dec. 31, 2023

Sep. 24, 2023

Jun. 25, 2023

Mar. 26, 2023

Dec. 31, 2023

Dec. 25, 2022

Feb. 13, 2024

Feb. 07, 2023

Shares Repurchases [Line Items]

Stock repurchased and retired during period, value

$ 70,136,000

$ 109,999,000

2022 and 2023 Share Repurchase Programs

Shares Repurchases [Line Items]

Stock repurchased and retired during period, shares

863

2,807

^[1]

Treasury stock acquired, average cost per share

$ 23.92

$ 24.93

^[1]

Stock repurchased and retired during period, value

$ 20,645,000

$ 70,000,000

^[1]

Excise tax on share repurchases

100,000

2023 Share Repurchase Program

Shares Repurchases [Line Items]

Stock repurchase program, authorized amount

$ 125,000,000

Stock repurchase program, remaining authorized repurchase amount

$ 70,000,000

Stock repurchased and retired during period, shares

735

590

619

Treasury stock acquired, average cost per share

$ 24.29

$ 27.03

$ 25.11

Stock repurchased and retired during period, value

$ 17,860,000

$ 15,956,000

$ 15,539,000

Subsequent event

Shares Repurchases [Line Items]

Stock repurchased and retired during period, shares

473

Stock repurchased and retired during period, value

$ 12,500,000

Subsequent event | 2023 Share Repurchase Program

Shares Repurchases [Line Items]

Stock repurchase program, remaining authorized repurchase amount

$ 57,500,000

Subsequent event | 2024 Share Repurchase Program

Shares Repurchases [Line Items]

Stock repurchase program, authorized amount

$ 350,000,000

[1]	Excludes $0.1 million of excise tax on share repurchases. Subsequent to December 31, 2023, the Company repurchased 473 thousand shares of its common stock for $12.5 million under the 2023 Share Repurchase Program under a Rule 10b5-1 plan.

Long-term Debt, Net (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of long-term debt, net

Following is a summary of outstanding long-term debt, net, as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022
(dollars in thousands)	OUTSTANDING BALANCE		INTEREST RATE		OUTSTANDING BALANCE		INTEREST RATE


Senior secured credit facility - revolving credit facility (1)	$	381,000	6.96	%	$	430,000	5.79	%





2025 Notes	104,786		5.00	%	105,000		5.00	%
2029 Notes	300,000		5.13	%	300,000		5.13	%



Less: unamortized debt discount and issuance costs	(5,067)				(6,493)



Long-term debt, net	$	780,719			$	828,507

________________

(1)Interest rate represents the weighted average interest rate as of the respective periods.

Schedule of interest rate options

The interest rate spreads are as follows:


	BASE RATE ELECTION	ADJUSTED TERM SOFR ELECTION
Revolving credit facility	50 to 150 basis points over the Base Rate	150 to 250 basis points over the Adjusted Term SOFR

Schedule of maturities of long-term debt

Following is a summary of principal payments of the Company’s total consolidated debt outstanding as of the period indicated:


(dollars in thousands)	DECEMBER 31, 2023
2024	$	—
2025	104,786
2026	381,000
2027	—
2028	—
Thereafter	300,000
Total payments	785,786
Less: unamortized debt discount and issuance costs	(5,067)
Total principal payments	$	780,719

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Stock-based and Deferred Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of compensation cost for share-based payment arrangements, allocation of share-based compensation costs by award type

The Company recognized stock-based compensation expense, net of capitalized expense, as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Performance-based share units (1)	$	3,089	$	8,176	$	13,821
Restricted stock units	7,910		7,687		8,184
Stock options	835		503		2,286
Total stock-based compensation expense, net of capitalized expense	$	11,834	$	16,366	$	24,291

________________

Performance-based share units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of nonvested performance-based units, activity

The following table presents a summary of the Company’s PSU activity:


(in thousands, except per unit data)	PERFORMANCE-BASED SHARE UNITS	WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT		AGGREGATE INTRINSIC VALUE (1)
Outstanding as of December 25, 2022	874	$	24.83	$	18,323
Granted	301	$	29.01
Performance adjustment (2)	154	$	19.84
Vested	(470)	$	19.84
Forfeited	(41)	$	26.48
Outstanding as of December 31, 2023	818	$	26.92	$	23,026
Expected to vest as of December 31, 2023 (3)	765			$	21,410

________________

(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

(2)Represents adjustment to 148% payout for PSUs granted during 2020.

Monte Carlo schedule of assumptions used to calculate fair value of PSUs

Assumptions used in the Monte Carlo simulation model and the grant date fair value of PSUs granted were as follows for the periods indicated:


	FISCAL YEAR
	2023			2022			2021
Assumptions:
Risk-free interest rate (1)	4.26		%	1.64		%	0.20		%
Dividend yield (2)	3.47		%	2.31		%	—		%

Volatility (3)	51.02		%	49.11		%	48.45		%

Grant date fair value per unit (4)	$	29.01		$	26.10		$	29.73

________________

(1)Risk-free interest rate is the U.S. Treasury yield curve in effect as of the grant date for the performance period of the unit.

(2)Dividend yield is the level of dividends expected to be paid on the Company’s common stock over the expected term.

(3)Based on the historical volatility of the Company’s stock over the last seven years.

(4)Represents a premium above the grant date per share value of the Company’s common stock for the Relative TSR modifier of 2.7%, 7.9% and 14.3% for grants during 2023, 2022 and 2021, respectively.

Schedule of employee service share-based compensation, allocation of recognized period costs

The following represents PSU compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021


Intrinsic value for PSUs vested	$	12,908	$	7,626	$	3,768
Grant date fair value of PSUs vested	$	9,332	$	6,646	$	3,401
Tax benefits for PSU compensation expense	$	745	$	348	$	134

Unrecognized PSU expense	$	6,520
Remaining weighted average vesting period	1.2 years

Restricted stock units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock-based compensation, restricted stock units, activity

Following is a summary of the Company’s RSU activity:


(in thousands, except per unit data)	RESTRICTED STOCK UNITS	WEIGHTED AVERAGE GRANT DATE FAIR VALUE PER UNIT		AGGREGATE INTRINSIC VALUE (1)
Outstanding as of December 25, 2022	657	$	21.72	$	13,776
Granted	406	$	24.18
Vested	(393)	$	21.02
Forfeited	(39)	$	24.15
Outstanding as of December 31, 2023 (2)	631	$	23.58	$	17,757

________________

(1)Based on the $20.96 and $28.15 share price of the Company’s common stock on December 23, 2022 and December 29, 2023, the last trading day of 2022 and 2023, respectively.

(2)All RSUs outstanding as of December 31, 2023 are expected to vest.

Schedule of employee service share-based compensation, allocation of recognized period costs

The following represents RSU compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands, except grant date fair value data)	2023		2022		2021
Weighted average grant date fair value for RSUs granted (1)	$	24.18	$	21.59	$	25.93

Intrinsic value of RSUs vested	$	10,275	$	9,070	$	13,482
Grant date fair value of RSUs vested	$	8,257	$	8,025	$	9,434
Tax benefits for RSU compensation expense	$	1,528	$	1,113	$	1,592

Unrecognized RSU expense	$	9,315
Remaining weighted average vesting period	1.9 years

________________

(1)The weighted average dividend yield was 3.63% and 2.43% for 2023 and 2022, respectively. There were no dividends in 2021.

Stock options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of share-based compensation, stock options, activity

The following table presents a summary of the Company’s stock option activity:


(in thousands, except exercise price and contractual life data)	OPTIONS	WEIGHTED AVERAGE EXERCISE PRICE		WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)	AGGREGATE INTRINSIC VALUE
Outstanding as of December 25, 2022	3,188	$	21.43	4.0	$	3,337

Exercised	(1,455)	$	21.86
Forfeited or expired	(8)	$	25.35
Outstanding and exercisable as of December 31, 2023 (1)	1,725	$	21.04	3.2	$	12,263

________________

(1)No stock options were granted during 2023.

Schedule of employee service share-based compensation, allocation of recognized period costs

The following represents stock option compensation information for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Intrinsic value of options exercised	$	6,200	$	6,367	$	8,419

Cash received from option exercises, net of tax withholding	$	31,778	$	17,888	$	14,951
Grant date fair value of stock options vested	$	1,037	$	7,645	$	19,246
Tax benefits for stock option compensation expense	$	757	$	1,495	$	1,942

Convertible Senior Notes (Schedule of Convertible Notes) (Details) - Convertible debt - 2025 Notes - USD ($)	Dec. 31, 2023	Dec. 25, 2022	May 12, 2020
Debt instrument [Line Items]
Principal	$ 104,786,000	$ 105,000,000	$ 230,000,000
Less: unamortized debt issuance costs	(1,138,000)	(1,939,000)
Net carrying amount	$ 103,648,000	$ 103,061,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes (Unrecognized Tax Benefits - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, beginning of the period	$ 18,258	$ 19,238	$ 25,524
Additions for tax positions taken during a prior period	42	114	166
Reductions for tax positions taken during a prior period	(601)	(401)	(4,209)
Additions for tax positions taken during the current period	1,507	1,100	1,292
Settlements with taxing authorities	0	(375)	(2,674)
Lapses in the applicable statutes of limitations	(2,037)	(1,424)	(854)
Translation adjustments, increases	3	6
Translation adjustments, decreases			(7)
Balance, end of the period	$ 17,172	$ 18,258	$ 19,238

Impairments and Exit Costs (Provision for Impaired Assets and Restaurant Closings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Provision for impaired assets and restaurant closings	$ 33,574	$ 5,964	$ 13,737
Provision for impaired assets and restaurant closings
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	40,412	5,486	13,401
Restaurant closure (benefits) charges	(6,838)	478	336
Provision for impaired assets and restaurant closings \| Corporate
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	0	7	270
Provision for impaired assets and restaurant closings \| U.S. segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	39,812	3,942	11,945
Restaurant closure (benefits) charges	(7,143)	478	422
Provision for impaired assets and restaurant closings \| International segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment losses	600	1,537	1,186
Restaurant closure (benefits) charges	$ 305	$ 0	$ (86)

Stock-based and Deferred Compensation Plans (PSU Compensation - Table) (Details) - Performance-based share units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value for PSUs vested	$ 12,908	$ 7,626	$ 3,768
Grant date fair value of PSUs vested	9,332	6,646	3,401
Tax benefits for PSU compensation expense	745	$ 348	$ 134
Unrecognized PSU expense	$ 6,520
Remaining weighted average vesting period	1 year 2 months 12 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Fair Value Measurements (Fair Value Measurements on a Nonrecurring Basis - Table) (Details) - Fair value, measurements, nonrecurring - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Impairment losses

$ 40,412

$ 5,486

$ 13,401

Operating lease, right-of-use-asset

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Operating lease assets, impairment

10,210

1,233

3,950

Property, fixtures and equipment, net

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Fixed asset impairment

30,202

4,253

8,445

Goodwill and other assets

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Impairment losses

1,006

Carrying value measurement | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

8,680

5,026

20,294

Carrying value measurement | Operating lease, right-of-use-asset | Fair value, inputs, level 3 | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

^[1]

4,057

2,219

8,647

Carrying value measurement | Property, fixtures and equipment, net | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

^[2]

4,623

11,647

Carrying value measurement | Property, fixtures and equipment, net | Fair value, inputs, level 2 | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

1,200

1,400

Carrying value measurement | Property, fixtures and equipment, net | Fair value, inputs, level 3 | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

3,428

2,807

^[2]

10,207

Carrying value measurement | Goodwill and other assets | Fair value, inputs, level 2 | Assets measured with impairment, year-to-date

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Line Items]

Assets, fair value disclosure

^[3]

$ 0

[1]	Carrying values measured using discounted cash flow models (Level 3). Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments.
[2]	Carrying values measured using Level 2 inputs to estimate fair value totaled $1.2 million and $1.4 million for 2023 and 2021, respectively. All other assets were valued using Level 3 inputs. Third-party market appraisals (Level 2) and discounted cash flow models (Level 3) were used to estimate the fair value. Refer to Note 4 - Impairments and Exit Costs for a more detailed discussion of impairments.
[3]	Other assets were generally measured using the quoted market value of comparable assets (Level 2).

Commitments and Contingencies (Undiscounted Reserves to the Discounted Reserves) (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Insurance [Line Items]

Undiscounted reserves

$ 52,494

$ 55,364

Discount

^[1]

(6,568)

(6,299)

Discounted reserves

$ 45,926

$ 49,065

Discount rate

5.13%

4.47%

Accrued and other current liabilities

Insurance [Line Items]

Self insurance reserve, current

$ 19,310

$ 20,932

Other long-term liabilities, net

Insurance [Line Items]

Self insurance reserve, noncurrent

$ 26,616

$ 28,133

[1]	Discount rates of 5.13% and 4.47% were used for December 31, 2023 and December 25, 2022, respectively.

Segment Reporting (Text) (Details)	12 Months Ended
Segment Reporting (Text) (Details)	Dec. 31, 2023 reportableSegment
Segment Reporting [Abstract]
Number of reportable segments	2

Other Long-term Liabilities, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Other Liabilities Disclosure [Abstract]
Accrued insurance liability	$ 26,616	$ 28,133
Deferred compensation obligations	34,800	31,608
Other long-term liabilities	35,969	30,794
Other long-term liabilities, net	$ 97,385	$ 90,535

Summary of Significant Accounting Policies (Leases) (Details)	Dec. 31, 2023
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	1 year
Lessee, operating lease, renewal term	5 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract	20 years
Lessee, operating lease, renewal term	30 years

Impairment and Exit Costs

12 Months Ended

Dec. 31, 2023

Impairments and Exit Costs [Abstract]

Impairments and Exit Costs

The components of Provision for impaired assets and restaurant closings are as follows for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Impairment losses
U.S.	$	39,812	$	3,942	$	11,945
International	600		1,537		1,186
Corporate	—		7		270
Total impairment losses	40,412		5,486		13,401
Restaurant closure (benefit) charges
U.S.	(7,143)		478		422
International	305		—		(86)
Total restaurant closure (benefit) charges	(6,838)		478		336
Provision for impaired assets and restaurant closings	$	33,574	$	5,964	$	13,737

2023 Closure Initiative - During the fourteen weeks ended December 31, 2023, the Company recognized asset impairments and closure charges in connection with the closure of three U.S. and two international Aussie Grill restaurants and the decision to close 36 predominantly older, underperforming U.S. restaurants (the “2023 Closure Initiative”). All remaining restaurant closures under the 2023 Closure Initiative were completed in February 2024, with an estimated $8 million to $11 million of related severance and closure charges to be recorded during the thirteen weeks ended March 31, 2024. Following is a summary of the 2023 Closure Initiative charges recognized in the Consolidated Statements of Operations and Comprehensive Income for the periods indicated (dollars in thousands):

DESCRIPTION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME CLASSIFICATION

FOURTEEN WEEKS AND FISCAL YEAR ENDED

DECEMBER 31, 2023

Property, fixtures and equipment impairments

Provision for impaired assets and restaurant closings

23,934

Lease right-of-use asset impairments and closure charges

Provision for impaired assets and restaurant closings

10,266

Severance and other expenses

General and administrative

622

Lease remeasurement gains

Other restaurant operating

(2,450)

32,372

During 2023, the Company recognized a lease termination gain of $6.7 million, net of related asset impairments, in connection with the closure of one U.S. restaurant.

The remaining impairment and closure charges during the periods presented resulted primarily from locations identified for closure or relocation.

Accrued Closed Facility Liabilities Rollforward - The following table is a rollforward of the Company’s closed facility lease-related liabilities and other accrued costs associated with closure and restructuring initiatives for the period indicated:


	FISCAL YEAR
(dollars in thousands)	2023
Balance, beginning of the period	$	5,476
Additions	3,340
Cash payments	(1,142)
Accretion	317
Adjustments	(1,737)
Balance, end of the period	$	6,254

Goodwill and Intangible Assets, Net (Goodwill and Intangible Assets by Reporting Unit or Operating Segment - Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Goodwill and Intangible Assets [Line Items]
Goodwill	$ 276,317	$ 273,032	$ 268,444
Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	414,716	414,716
Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	18,200	22,277
U.S. segment
Goodwill and Intangible Assets [Line Items]
Goodwill	170,657	170,657	170,657
U.S. segment \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	356,000	356,000
U.S. segment \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	18,200	22,025
International segment
Goodwill and Intangible Assets [Line Items]
Goodwill	105,660	102,375	$ 97,787
International segment \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	58,716	58,716
International segment \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	0	252
Outback Steakhouse
Goodwill and Intangible Assets [Line Items]
Goodwill	123,188	123,188
Outback Steakhouse \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	287,000	287,000
Outback Steakhouse \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	0	0
Carrabba's Italian Grill
Goodwill and Intangible Assets [Line Items]
Goodwill	18,826	18,826
Carrabba's Italian Grill \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	69,000	69,000
Carrabba's Italian Grill \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	0	0
Bonefish Grill
Goodwill and Intangible Assets [Line Items]
Goodwill	28,188	28,188
Bonefish Grill \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	0	0
Bonefish Grill \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	9,788	12,618
Fleming's Prime Steakhouse & Wine Bar
Goodwill and Intangible Assets [Line Items]
Goodwill	455	455
Fleming's Prime Steakhouse & Wine Bar \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	0	0
Fleming's Prime Steakhouse & Wine Bar \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	8,412	9,407
Outback Steakhouse - Brazil
Goodwill and Intangible Assets [Line Items]
Goodwill	62,994	59,709
Outback Steakhouse - Brazil \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	0	0
Outback Steakhouse - Brazil \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	0	252
Other - International
Goodwill and Intangible Assets [Line Items]
Goodwill	42,666	42,666
Other - International \| Trade names
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trade names	58,716	58,716
Other - International \| Trademarks
Goodwill and Intangible Assets [Line Items]
Indefinite-lived trademarks	$ 0	$ 0

Stock-based and Deferred Compensation Plans (Stock Option Compensation - Table) (Details) - Stock options - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised	$ 6,200	$ 6,367	$ 8,419
Cash received from option exercises, net of tax withholding	31,778	17,888	14,951
Grant date fair value of stock options vested	1,037	7,645	19,246
Tax benefits for RSU/stock option compensation expense	$ 757	$ 1,495	$ 1,942

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Long-term Debt, Net

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Long-term Debt, Net

Following is a summary of outstanding long-term debt, net, as of the periods indicated:


	DECEMBER 31, 2023				DECEMBER 25, 2022
(dollars in thousands)	OUTSTANDING BALANCE		INTEREST RATE		OUTSTANDING BALANCE		INTEREST RATE


Senior secured credit facility - revolving credit facility (1)	$	381,000	6.96	%	$	430,000	5.79	%





2025 Notes	104,786		5.00	%	105,000		5.00	%
2029 Notes	300,000		5.13	%	300,000		5.13	%



Less: unamortized debt discount and issuance costs	(5,067)				(6,493)



Long-term debt, net	$	780,719			$	828,507

________________

(1)Interest rate represents the weighted average interest rate as of the respective periods.

Bloomin’ Brands, Inc. is a holding company and conducts its operations through its subsidiaries, certain of which have incurred indebtedness as described below.

Credit Agreement - On April 16, 2021, the Company and OSI, as co-borrowers, entered into the Second Amended and Restated Credit Agreement (the “Credit Agreement”), which provides for senior secured financing of up to $1.0 billion consisting of a $200.0 million Term loan A and an $800.0 million revolving credit facility (the “Senior Secured Credit Facility”). The Senior Secured Credit Facility matures on April 16, 2026.

On April 26, 2022, the Company and OSI entered into the First Amendment to the Second Amended and Restated Credit Agreement and Incremental Amendment (the “Amended Credit Agreement”), which included an increase of the Company’s existing revolving credit facility from $800.0 million to $1.0 billion and a transition from the London Inter-Bank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) as the benchmark rate for purposes of calculating interest under the Senior Secured Credit Facility. At closing, an incremental

$192.5 million was drawn on the revolving credit facility to fully repay the outstanding balance of Term loan A. The total indebtedness of the Company remained unchanged as a result of the Amended Credit Agreement.

Under the Amended Credit Agreement, the Company may elect an interest rate at each reset period based on the Base Rate or Adjusted Term SOFR, plus an applicable spread. The Base Rate option is the highest of: (i) the prime rate of Wells Fargo Bank, National Association, (ii) the federal funds effective rate plus 0.5 of 1.0% or (iii) the Adjusted Term SOFR with a one-month interest period plus 1.0% (the “Base Rate”). The Adjusted Term SOFR option is the 30, 90 or 180-day SOFR, plus a term SOFR adjustment of 0.10%, subject to a 0% floor (the “Adjusted Term SOFR”). The interest rate spreads are as follows:


	BASE RATE ELECTION	ADJUSTED TERM SOFR ELECTION
Revolving credit facility	50 to 150 basis points over the Base Rate	150 to 250 basis points over the Adjusted Term SOFR

The transition to SOFR did not materially impact the interest rate applied to the Company’s borrowings. No other material changes were made to the terms of the Company’s Credit Agreement as a result of the Amended Credit Agreement.

Fees on letters of credit and daily unused availability under the revolving credit facility are 150 to 250 basis points and 25 to 40 basis points, respectively.

The commitments under the Senior Secured Credit Facility may be increased in an aggregate principal amount of up to: (i) $225.0 million or (ii) at the Company’s option, up to an unlimited amount of incremental facilities, so long as the Consolidated Senior Secured Net Leverage Ratio, as defined in the Amended Credit Agreement, is no more than 3.00 to 1.00 as of the last day of the most recent period of four consecutive fiscal quarters ended.

The Amended Credit Agreement limits, subject to certain exceptions, the Company’s ability and the ability of its subsidiaries to incur additional indebtedness; make significant payments; sell assets; pay dividends above certain thresholds and other restricted payments; make certain investments; acquire certain assets; effect mergers and similar transactions; and effect certain other transactions with affiliates.

The Amended Credit Agreement requires a Total Net Leverage Ratio (“TNLR”) not to exceed 4.50 to 1.00. TNLR is the ratio of Consolidated Total Debt (Current portion of long-term debt and Long-term debt, net of cash, excluding the 2025 Notes) to Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization and certain other adjustments as defined in the Amended Credit Agreement).

As of December 31, 2023 and December 25, 2022, the Company was in compliance with its debt covenants.

2029 Notes - On April 16, 2021, the Company and its wholly-owned subsidiary OSI, as co-issuers, issued $300.0 million aggregate principal amount of senior unsecured notes due 2029 (the “2029 Notes”).

The 2029 Notes were issued pursuant to an Indenture, dated April 16, 2021 (the “Indenture”), by and among the Company, the guarantors named therein, and Wells Fargo Bank, National Association, as trustee. The 2029 Notes are guaranteed by each of the Company’s existing and future domestic restricted subsidiaries (other than OSI) that are guarantors or borrowers under its Senior Secured Credit Facility or certain other indebtedness. The 2029 Notes mature on April 15, 2029, unless earlier redeemed or purchased by the Company. The 2029 Notes bear cash interest at an annual rate of 5.125% payable semi-annually in arrears on April 15 and October 15 of each year.

The Company may redeem some or all of the 2029 Notes at any time on or after April 15, 2024, at the redemption prices set forth in the Indenture, plus accrued and unpaid interest. The Company may also redeem up to 40% of the 2029 Notes in an amount not greater than the proceeds of certain equity offerings completed before April 15, 2024, at a redemption price equal to 105.125% of the principal amount thereof, plus accrued and unpaid interest. In

addition, at any time prior to April 15, 2024, the Company may redeem some or all of the 2029 Notes at a price equal to 100% of the principal amount, plus a make-whole premium, plus accrued and unpaid interest.

The Indenture contains restrictive covenants that limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional indebtedness or issue certain preferred stock; pay dividends above certain thresholds, redeem stock or make other distributions; make certain investments; create restrictions on the ability of the Company’s restricted subsidiaries to pay dividends or make other payments to the Company; create certain liens; transfer or sell certain assets; merge or consolidate; enter into certain transactions with the Company’s affiliates; and designate subsidiaries as unrestricted subsidiaries. These covenants are subject to a number of exceptions and qualifications as set forth in the Indenture.

The Indenture contains customary events of default, including, without limitation, failure to make required payments, failure to comply with certain agreements or covenants, cross-acceleration to certain other indebtedness in excess of specified amounts, certain events of bankruptcy and insolvency, and failure to pay certain judgments.

The net proceeds were used to repay a portion of the Company’s outstanding Term loan A and revolving credit facility in conjunction with the refinancing of its former credit facility.

Maturities - Following is a summary of principal payments of the Company’s total consolidated debt outstanding as of the period indicated:


(dollars in thousands)	DECEMBER 31, 2023
2024	$	—
2025	104,786
2026	381,000
2027	—
2028	—
Thereafter	300,000
Total payments	785,786
Less: unamortized debt discount and issuance costs	(5,067)
Total principal payments	$	780,719

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Derivative Instruments and Hedging Activities (Fair Value of Interest Rate Swaps - Table) (Details) - Interest rate swap - Designated as hedging instrument
$ in Thousands

Dec. 31, 2023

USD ($)

Derivative [Line Items]

Interest rate swaps, liabilities, fair value

$ 1,146

^[1]

Other current assets, net

Derivative [Line Items]

Interest rate derivative assets, at fair value

320

^[1]

Accrued and other current liabilities

Derivative [Line Items]

Interest rate swaps, liabilities, fair value

253

Other long-term liabilities, net

Derivative [Line Items]

Interest rate swaps, liabilities, fair value

$ 893

[1]	See Note 18 - Fair Value Measurements for fair value discussion of the interest rate swaps.

Income Taxes (Components of Income Before Provision - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 235,357	$ 134,465	$ 258,202
Foreign	37,618	17,442	(8,905)
Income before provision for income taxes	$ 272,975	$ 151,907	$ 249,297

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Other Assets, Net (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Other Assets [Abstract]

Company-owned life insurance

$ 28,018

$ 27,789

Deferred debt issuance costs - revolving credit facility

^[1]

3,813

5,505

Liquor licenses

23,125

23,454

Other assets

30,231

25,399

Other assets, net

85,187

82,147

Accumulated amortization, deferred financing fees

$ 11,700

$ 10,100

[1]	Net of accumulated amortization of $11.7 million and $10.1 million as of December 31, 2023 and December 25, 2022, respectively.

Other Long-term Liabilities, Net

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Long-term Liabilities, Net

Other long-term liabilities, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Accrued insurance liability	$	26,616	$	28,133

Deferred compensation obligations	34,800		31,608

Other long-term liabilities	35,969		30,794
	$	97,385	$	90,535

Other Current Assets, Net (Details) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Dec. 27, 2020

Accounts, Notes, Loans and Financing Receivable [Line Items]

Prepaid expenses

$ 26,674

$ 29,343

Deferred gift card sales commissions

18,081

17,755

$ 17,793

$ 19,300

Other current assets, net

5,404

4,671

Total other current assets, net

153,002

183,718

Accounts receivable - gift cards, net

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, net

^[1]

67,424

85,606

Accounts receivable - vendors, net

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, net

^[1]

13,648

25,385

Accounts receivable - franchisees, net

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, net

^[1]

3,671

2,550

Accounts receivable - other, net

Accounts, Notes, Loans and Financing Receivable [Line Items]

Accounts receivable, net

^[1]

$ 18,100

$ 18,408

[1]	See Note 19 - Allowance for Expected Credit Losses for a rollforward of the related allowance for expected credit losses.

Revenue Recognition (Contract Assets and Liabilities - Deferred Gift Card Commissions Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Capitalized Contract Cost, Net, Current [Roll Forward]
Balance, beginning of the period	$ 17,755	$ 17,793	$ 19,300
Deferred gift card sales commissions amortization	(23,695)	(24,091)	(26,012)
Deferred gift card sales commissions capitalization	26,706	26,743	26,625
Other	(2,685)	(2,690)	(2,120)
Balance, end of the period	$ 18,081	$ 17,755	$ 17,793

Earnings Per Share (Basic and Diluted EPS - Table) (Details) - USD ($)
$ / shares in Units, shares in Thousands

12 Months Ended

May 25, 2022

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Schedule of Earnings Per Share, Basic and Diluted [Line Items]

Net income attributable to Bloomin’ Brands

$ 247,386,000

$ 101,907,000

$ 215,555,000

Convertible senior notes if-converted method interest adjustment, net of tax

345,000

^[1]

Diluted net income attributable to Bloomin’ Brands

$ 247,386,000

$ 101,907,000

$ 215,900,000

Basic weighted average common shares outstanding

87,230

88,846

88,981

Effect of dilutive securities:

Convertible senior notes

5,067

6,089

^[2]

11,377

^[1]

Warrants

3,389

2,954

^[2]

6,250

Diluted weighted average common shares outstanding

96,453

98,512

107,803

Basic earnings per share (in USD per share)

$ 2.84

$ 1.15

$ 2.42

Diluted earnings per share (in USD per share)

$ 2.56

$ 1.03

$ 2.00

2025 Notes | Convertible debt

Effect of dilutive securities:

2025 Notes repurchase amount

$ 125,000,000

Stock options

Effect of dilutive securities:

Dilutive shares

381

261

779

Nonvested restricted stock units

Effect of dilutive securities:

Dilutive shares

203

182

355

Nonvested performance-based share units

Effect of dilutive securities:

Dilutive shares

183

180

[1]	Adjustment for interest related to the 2025 Notes weighted for the portion of the period prior to the Company’s election under the 2025 Notes indenture to settle the principal portion of the 2025 Notes in cash. Effective with the Company’s election, there will be no further numerator adjustments for interest or denominator adjustments for shares required to settle the principal portion.
[2]	During 2022, the Company repurchased $125.0 million of the 2025 Notes and settled the corresponding portion of the related warrants. See Note 13 - Convertible Senior Notes for additional details.

Other Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

Other Assets [Abstract]

Schedule of other assets, noncurrent

Other assets, net, consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022
Company-owned life insurance	$	28,018	$	27,789
Deferred debt issuance costs - revolving credit facility (1)	3,813		5,505
Liquor licenses	23,125		23,454
Other assets	30,231		25,399
	$	85,187	$	82,147

________________

(1)Net of accumulated amortization of $11.7 million and $10.1 million as of December 31, 2023 and December 25, 2022, respectively.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation - The Company’s consolidated financial statements include the accounts and operations of Bloomin’ Brands and its subsidiaries.

To ensure timely reporting, the Company consolidates the results of its Brazil operations on a one-month calendar lag. There were no intervening events that would materially affect the Company’s consolidated financial position, results of operations or cash flows as of and for the year ended December 31, 2023.

During 2021, the recovery of in-restaurant dining from the COVID-19 pandemic (“COVID-19”) continued while the Company retained a significant portion of the incremental off-premises volume it achieved during 2020. Internationally, COVID-19-related capacity constraints continued in 2021 during periods of increased case counts and new variants until the middle of 2022 when in-restaurant dining was operating without COVID-19-related capacity constraints.

Principles of Consolidation - All intercompany accounts and transactions have been eliminated in consolidation.

The Company consolidates variable interest entities where it has been determined that the Company is the primary beneficiary of those entities’ operations. The Company is a franchisor of 291 restaurants as of December 31, 2023, but does not possess any ownership interests in its franchisees and does not provide material direct financial support to its franchisees. These franchise relationships are not deemed variable interest entities and are not consolidated.

Investments in entities the Company does not control, but where the Company’s interest is between 20% and 50% and the Company has the ability to exercise significant influence over the entity, are accounted for under the equity method.

Fiscal Year - The Company utilizes a 52-53-week year ending on the last Sunday in December. In a 52-week fiscal year, each quarterly period is comprised of 13 weeks. The additional week in a 53-week fiscal year is added to the fourth quarter. Fiscal year 2023 consisted of 53 weeks and fiscal years 2022 and 2021 consisted of 52 weeks. The additional operating week of 2023 resulted in increases of $83.5 million of Total revenues and $0.15 of GAAP diluted earnings per share in the Consolidated Statements of Operations and Comprehensive Income.

Use of Estimates - The preparation of the accompanying consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated.

Cash and Cash Equivalents - Cash equivalents consist of investments that are readily convertible to cash with an original maturity date of three months or less. Cash and cash equivalents include $56.2 million and $41.5 million, as

of December 31, 2023 and December 25, 2022, respectively, for amounts in transit from credit card companies since settlement is reasonably assured.

Restricted Cash - From time to time, the Company may have short-term restricted cash balances consisting of amounts pledged for settlement of deferred compensation plan obligations.

Concentrations of Credit and Counterparty Risk - Financial instruments that potentially subject the Company to a concentration of credit risk and credit losses are through credit card and trade receivables consisting primarily of amounts due for gift card, vendor, franchise and other receivables. Gift card, vendor and other receivables consist primarily of amounts due from gift card resellers and vendor rebates. The Company considers the concentration of credit risk for gift card, vendor and other receivables to be minimal due to the payment histories and general financial condition of its gift card resellers and vendors. Amounts due from franchisees consist of initial franchise fees, royalty income and advertising fees. See Note 7 - Other Current Assets, Net for disclosure of trade receivables by category as of December 31, 2023 and December 25, 2022.

Financial instruments that potentially subject the Company to concentrations of counterparty risk are cash and cash equivalents and derivatives. The Company attempts to limit its counterparty risk by investing in certificates of deposit, money market funds, noninterest-bearing accounts and other highly rated investments. Whenever possible, the Company selects investment grade counterparties and rated money market funds in order to mitigate its counterparty risk. At times, cash balances may be in excess of FDIC insurance limits. See Note 16 - Derivative Instruments and Hedging Activities for a discussion of the Company’s use of derivative instruments and management of credit risk inherent in derivative instruments.

Allowance for Expected Credit Losses - The Company evaluates the collectability of credit card and trade receivables based on historical loss experience by risk pool and records periodic adjustments for factors such as deterioration of economic conditions, specific customer circumstances and changes in the aging of accounts receivable balances. Losses are charged off in the period in which they are determined to be uncollectible. See Note 19 - Allowance for Expected Credit Losses for a discussion of the Company’s allowance for expected credit losses.

In instances where there is no established loss history, S&P speculative-grade default rates are utilized as an estimated expected credit loss rate.

The Company assigned its interest, and is contingently liable, under certain real estate leases, primarily related to divested restaurant properties. Contingent lease liabilities related to these guarantees are calculated based on management’s estimate of exposure to losses which includes historical analysis of credit losses, including known instances of default, and existing economic conditions. See Note 21 - Commitments and Contingencies for a discussion of the Company’s contingent lease liabilities.

Fair Value - Fair value is the price that would be received for an asset or paid to transfer a liability, or the exit price, in an orderly transaction between market participants on the measurement date. Fair value is categorized into one of the following three levels based on the lowest level of significant input:


Level 1			Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2			Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3			Unobservable inputs that cannot be corroborated by observable market data

Inventories - Inventories consist of food and beverages and are stated at the lower of cost (first-in, first-out) or net realizable value.

Property, Fixtures and Equipment - Property, fixtures and equipment are stated at cost, net of accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful life of the assets. Estimated useful lives by major asset category are generally as follows:


Buildings (1)			5 to 30 years
Furniture and fixtures			5 to 7 years
Equipment			2 to 7 years

Computer equipment and software			2 to 7 years

____________________

(1)Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Repair and maintenance costs that maintain the appearance and functionality of the restaurant, but do not extend the useful life of any restaurant asset, are expensed as incurred. The Company suspends depreciation and amortization for assets held for sale. The cost and related accumulated depreciation of assets sold or disposed of are removed from the Company’s Consolidated Balance Sheets, and any resulting gain or loss is generally recognized in Other restaurant operating expense in its Consolidated Statements of Operations and Comprehensive Income.

The Company capitalizes direct and indirect internal costs associated with the acquisition, development, design and construction of Company-owned restaurant locations as these costs have a future benefit to the Company. Upon restaurant opening, these costs are depreciated and charged to Depreciation and amortization expense over the reasonably certain lease term. Internal costs of $5.4 million, $4.1 million and $3.7 million were capitalized during 2023, 2022 and 2021, respectively.

For 2023 and 2022, computer equipment and software costs of $12.4 million and $9.2 million, respectively, were capitalized. As of December 31, 2023 and December 25, 2022, there was $14.3 million and $10.1 million, respectively, of unamortized computer equipment and software included in Property, fixtures and equipment, net on the Company’s Consolidated Balance Sheets.

Goodwill and Intangible Assets - Goodwill represents the excess of the purchase price over the fair value of net assets acquired in business combinations and is assigned to the reporting unit in which the acquired business will operate. The Company’s indefinite-lived intangible assets consist of trade names and are recorded at fair value as of the date of acquisition. Goodwill and indefinite-lived intangible assets are tested for impairment annually, as of the first day of the second fiscal quarter, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

The Company may elect to perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If the qualitative assessment is not performed or if the Company determines that it is not more likely than not that the fair value of the reporting unit exceeds the carrying value, the fair value of the reporting unit is calculated. The carrying value of the reporting unit is compared to its calculated fair value, with any excess of carrying value over fair value deemed to be an impairment.

Definite-lived intangible assets, which consist of trademarks and reacquired franchise rights, are recorded at fair value as of the date of acquisition, amortized over their estimated useful lives and tested for impairment, using the relief from royalty method and discounted cash flows model, respectively, whenever events or changes in circumstances indicate that the carrying value may not be recoverable.

Derivatives - The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting.

Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. If the derivative qualifies for hedge accounting treatment, any gain or loss on the derivative instrument is recognized in equity as a change to Accumulated other comprehensive loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings.

Unrealized gains or losses on the Company’s interest rate swaps are reclassified to Interest expense, net as interest payments are made on the hedged portion of the Company’s revolving credit facility. The Company has elected to record cash flows from interest rate swaps within operating activities, the same category as the items being hedged, in its Consolidated Statements of Cash Flows.

The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. Derivatives not designated as hedges are not speculative and are used to manage the Company’s exposure to interest rate movements, foreign currency exchange rate movements, changes in energy prices and other identified risks. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in earnings. The Company has elected not to offset derivative positions in the balance sheet with the same counterparty under the same agreement.

Deferred Debt Issuance Costs - For its revolving credit facility, the Company records deferred debt issuance costs related to the issuance of debt obligations in Other assets, net on its Consolidated Balance Sheets. For fees associated with all other debt obligations, the Company records deferred debt issuance costs as a reduction of Long-term debt, net.

The Company amortizes deferred debt issuance costs to interest expense over the term of the respective financing arrangement, primarily using the effective interest method. The Company amortized deferred debt issuance costs of $3.1 million, $3.5 million and $4.5 million to Interest expense, net for 2023, 2022 and 2021, respectively.

Liquor Licenses - The fees from obtaining non-transferable liquor licenses directly issued by local government agencies for nominal fees are expensed as incurred. The costs of purchasing transferable liquor licenses through open markets in jurisdictions with a limited number of authorized liquor licenses are capitalized as indefinite-lived intangible assets and included in Other assets, net on the Company’s Consolidated Balance Sheets. Liquor licenses are reviewed for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount may not be recoverable.

Insurance Reserves - The Company carries insurance programs with specific retention levels or high per-claim deductibles for a significant portion of expected losses under its workers’ compensation, general or liquor liability, health, property and management liability insurance programs. The Company records a liability for all unresolved claims and for an estimate of incurred but not reported claims at the anticipated cost that falls below its specified retention levels or per-claim deductible amounts. In establishing reserves, the Company considers actuarial assumptions and judgments regarding economic conditions, and the frequency and severity of claims. Reserves recorded for workers’ compensation and general liability claims are discounted using the average of the one-year and five-year risk-free rate of monetary assets that have comparable maturities.

Share Repurchase - The par value of the repurchased shares is deducted from common stock and the excess of the purchase price over the par value of the shares, including broker commissions and excises taxes, is recorded to Accumulated deficit. All shares of common stock acquired through share repurchase programs are retired and restored to authorized but unissued shares of common stock. The Company has elected to record excise taxes in connection with share repurchases within operating activities in its Consolidated Statements of Cash Flows.

Revenue Recognition - The Company records food and beverage revenues, net of discounts and taxes, upon delivery to the customer. Franchise-related revenues are included in Franchise and other revenues in the Company’s

Consolidated Statements of Operations and Comprehensive Income. Royalties, which are generally a percentage of net sales of the franchisee, are recognized as revenue in the period in which the sales are reported to have occurred provided collectability is reasonably assured.

Proceeds from the sale of gift cards, which do not have expiration dates, are recorded as deferred revenue and recognized as revenue upon redemption by the customer. The Company applies the portfolio approach practical expedient to account for gift card contracts and performance obligations. Gift card breakage, the amount of gift cards which will not be redeemed, is recognized using estimates based on historical redemption patterns. If actual redemptions vary from assumptions used to estimate breakage, gift card breakage income may differ from the amount recorded. The Company periodically updates its estimates used for breakage. Breakage revenue is recorded as a component of Restaurant sales in the Company’s Consolidated Statements of Operations and Comprehensive Income. Approximately 84% of deferred gift card revenue is expected to be recognized within 12 months of inception.

Gift card sales commissions paid to third-party providers are capitalized and subsequently amortized to Other restaurant operating expense based on historical gift card redemption patterns. See Note 3 - Revenue Recognition for rollforwards of deferred gift card sales commissions and unearned gift card revenue.

Advertising fees charged to franchisees are recognized in Franchise and other revenues in the Company’s Consolidated Statements of Operations and Comprehensive Income provided collectability is reasonably assured. Initial franchise and renewal fees are recognized over the term of the franchise agreement and renewal period, respectively. The weighted average remaining term of franchise agreements and renewal periods was approximately 11 years as of December 31, 2023.

The Company maintains a customer loyalty program, Dine Rewards, in the U.S., where customers earn a reward after attaining qualified spend amounts. The Company’s estimate of the fair value of the reward is recorded as deferred revenue. Each reward must be redeemed within specified time limits of earning such reward. Revenue is recorded upon redemption and breakage for unredeemed rewards is recorded proportional to historical redemption patterns. The Company applies the practical expedient to exclude disclosures regarding loyalty program remaining performance obligations, which have original expected durations of less than one year.

The Company collects and remits sales, food and beverage, alcoholic beverage and hospitality taxes on transactions with customers and reports revenue net of taxes in its Consolidated Statements of Operations and Comprehensive Income.

Leases - The Company’s determination of whether an arrangement contains a lease is based on an evaluation of whether the arrangement conveys the right to use and control specific property or equipment. The Company leases restaurant and office facilities and certain equipment under operating leases primarily having initial terms between one and 20 years. Restaurant facility leases generally have renewal periods totaling five to 30 years, exercisable at the option of the Company. Contingent rentals represent payment of variable lease obligations based on a percentage of gross revenues, as defined by the terms of the applicable lease agreement for certain restaurant facility leases. The Company also has certain leases which reset periodically based on a specified index. Such leases are recorded using the index that existed at lease commencement. Subsequent changes in the index are recorded as variable rental payments. Variable rental payments are expensed as incurred in the Company’s Consolidated Statements of Operations and Comprehensive Income and future variable rent obligations are not included within the lease liabilities on the Consolidated Balance Sheets. The depreciable life of lease assets and leasehold improvements are limited by the expected lease term. None of the Company’s leases contain any material residual value guarantees or restrictive covenants.

Upon the 2019 adoption of ASC Topic 842 - Leases, the Company elected the practical expedient to not separate U.S. lease and non-lease components for real estate leases entered into after adoption. Additionally, for certain equipment leases, the Company applies a portfolio approach to account for the lease assets and liabilities. Leases

with an initial term of 12 months or less are not recorded on its Consolidated Balance Sheets and are recognized on a straight-line basis over the lease term within Other restaurant operating expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Rent expense for the Company’s operating leases, which generally have escalating rentals over the term of the lease and may include rent holidays, is recorded on a straight-line basis over the initial lease term and those renewal periods that are reasonably certain. Operating lease rent expense for open Company-owned restaurants is recorded in Other restaurant operating expense in the Company’s Consolidated Statements of Operations and Comprehensive Income. Payments received from landlords as incentives for leasehold improvements are recorded as a reduction of the right-of-use asset and amortized on a straight-line basis over the term of the lease as a reduction of rent expense.

Pre-Opening Expenses - Non-capital expenditures associated with opening new restaurants are expensed as incurred and are included in Other restaurant operating expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Consideration Received from Vendors - The Company receives consideration for a variety of vendor-sponsored programs, such as volume rebates, promotions and advertising allowances. Advertising allowances are intended to offset the Company’s costs of promoting and selling menu items in its restaurants. Vendor consideration is recorded as a reduction of Food and beverage cost or Other restaurant operating expense when recognized in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Impairment of Long-Lived Assets and Costs Associated with Exit Activities - Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The evaluation is performed at the lowest level of identifiable cash flows independent of other assets. For long-lived assets deployed at its restaurants, the Company reviews for impairment at the individual restaurant level. When evaluating for impairment, the total future undiscounted cash flows expected to be generated by the asset are compared to the carrying amount. If the total future undiscounted cash flows of the asset are less than its carrying amount, recoverability is measured by comparing the fair value of the assets to the carrying amount. An impairment loss is recognized in earnings when the asset’s carrying value exceeds its estimated fair value. Fair value is generally estimated using a discounted cash flow model.

Restaurant closure costs, including lease termination fees, are expensed as incurred. When the Company ceases using the property rights under a non-cancelable operating lease, it records a liability for the net present value of any remaining non-rent lease-related obligations, less the estimated subtenant cost recovery that can reasonably be obtained for the property. Any subsequent adjustment to that liability as a result of lease termination or changes in estimates of cost recovery is recorded in the period incurred. The associated expense is recorded in Provision for impaired assets and restaurant closings in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Restaurant sites and certain other assets to be sold are included in assets held for sale when certain criteria are met, including the requirement that the likelihood of selling the assets within one year is probable.

Advertising Costs - Advertising production costs are expensed in the period when the advertising first occurs. All other advertising costs are expensed in the period in which the costs are incurred. Advertising expense of $115.6 million, $94.0 million and $59.7 million for 2023, 2022 and 2021, respectively, was recorded in Other restaurant operating expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Legal Costs - Settlement costs for employment litigation are recorded to Other restaurant operating expense when they are deemed probable and reasonably estimable. Legal fees are recognized as incurred and are reported in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Research and Development Expenses (“R&D”) - R&D is expensed as incurred in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive Income. R&D primarily consists of payroll and benefit costs. R&D was $3.5 million, $2.7 million and $2.6 million for 2023, 2022 and 2021, respectively.

Partner Compensation - In addition to base salary, field-level operators and multi-unit supervisors receive performance-based bonuses for providing management and supervisory services to their restaurants, certain of which may be based on their restaurants’ monthly operating results or cash flows. The Company accrues for these obligations using current and historical restaurant performance information. Most field-level compensation is recorded in Labor and other related expense, with compensation for multi-unit supervisors recorded in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Many of the Company’s international operators are given the option to purchase participation interests in the cash distributions of the restaurants they manage. The amount, terms and availability vary by country.

Stock-based Compensation - Stock-based compensation awards are measured at fair value at the date of grant and expensed over their vesting or service periods. Stock-based compensation expense is recognized only for those awards expected to vest. The expense, net of forfeitures, is recognized using the straight-line method. Forfeitures of share-based compensation awards are recognized as they occur.

Performance-based share units (“PSUs”) issued by the Company include a relative total shareholder return (“Relative TSR”) modifier to the final payout outcome, which can adjust the payout percentage based on the achieved performance metric. The Relative TSR is measured by comparing the Company’s Relative TSR to that of the constituents of the S&P 1500 Restaurants index.

Basic and Diluted Earnings per Share - The Company computes basic earnings per share based on the weighted average number of common shares that were outstanding during the period. Except where the result would be antidilutive, diluted earnings per share includes the dilutive effect of common stock equivalents, consisting of stock options, restricted stock units, PSUs and warrants, measured using the treasury stock method, and the Company’s convertible senior notes, measured using the if-converted method. PSUs are considered dilutive when the related performance criterion has been met.

The Company has provided the trustee of the Company’s convertible senior notes due 2025 (the “2025 Notes”) notice of its irrevocable election under the 2025 Notes indenture to settle the principal portion of the 2025 Notes upon conversion in cash and any excess in shares. As a result, only the amounts in excess of the principal amount, if applicable, are considered in diluted earnings per share.

Foreign Currency Translation and Transactions - For non-U.S. operations, the functional currency is the local currency. Foreign currency denominated assets and liabilities are translated into U.S. dollars using the exchange rates in effect at the balance sheet date with the translation adjustments recorded in Accumulated other comprehensive loss in the Company’s Consolidated Statements of Changes in Stockholders’ Equity. Results of operations are translated using the average exchange rates for the reporting period. Foreign currency exchange transaction losses are recorded in General and administrative expense in the Company’s Consolidated Statements of Operations and Comprehensive Income.

Income Taxes - Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in the tax rate is recognized within income in the period that includes the enactment date of the rate change. A valuation allowance may reduce deferred income tax assets to the amount that is more likely than not to be realized.

The Company records a tax benefit for an uncertain tax position using the highest cumulative tax benefit that is more likely than not to be realized. The Company adjusts its liability for unrecognized tax benefits in the period in which it determines the issue is effectively settled, the statute of limitations expires or when more information becomes available. Liabilities for unrecognized tax benefits are recorded as a reduction of Deferred income tax assets, net and within Other long-term liabilities, net, with related interest and penalties recorded in Other long-term liabilities, net, on the Company’s Consolidated Balance Sheets. Interest and penalties recognized on liabilities for unrecognized tax benefits are included in Provision for income taxes.

Recently Adopted Financial Accounting Standards - On December 28, 2020, the Company adopted Accounting Standards Update (“ASU”) No. 2020-06, “Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity,” (“ASU No. 2020-06”) which removes the separation models for convertible debt with a cash conversion feature or convertible instruments with a beneficial conversion feature. ASU No. 2020-06 also requires the application of the if-converted method for calculating the diluted earnings per share impact of the 2025 Notes. The Company adopted ASU No. 2020-06 using the modified retrospective approach which resulted in a cumulative-effect adjustment that increased (decreased) the following Consolidated Balance Sheet accounts during the first quarter of 2021:


ADJUSTMENT	CONSOLIDATED BALANCE SHEET CLASSIFICATION	AMOUNT (dollars in millions)
Deferred tax impact of cumulative-effect adjustment	Deferred income tax assets, net	$	14.9
Debt discount reclassification	Long-term debt, net	$	59.9
Equity issuance costs reclassification	Long-term debt, net	$	(2.1)
Debt discount amortization reclassification, net of tax	Accumulated deficit	$	4.4
Reversal of separated equity component, net of tax	Additional paid-in capital	$	(47.3)

After adopting ASU No. 2020-06, the 2025 Notes are reflected entirely as a liability since the embedded conversion feature is no longer separately presented within stockholders’ equity.

Recently Issued Financial Accounting Standards Not Yet Adopted - In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” (“ASU No. 2023-07”) which requires disclosure of significant segment expenses regularly provided to the Company’s chief operating decision-maker (“CODM”). ASU No. 2023-07 also allows for multiple measures of segment profit (loss) if the CODM utilizes such measures to allocate resources or assess performance. ASU No. 2023-07 is effective for the Company beginning with the 2024 Form 10-K, with early adoption permitted. The Company is currently evaluating the impact ASU No. 2023-07 will have on its disclosures.

In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” (“ASU No. 2023-09”) which expands existing income tax disclosures, including disaggregation of the Company’s effective income tax rate reconciliation table and income taxes paid disclosures. ASU No. 2023-09 is effective for the Company beginning with the 2025 Form 10-K, with early adoption permitted. The Company is currently evaluating the impact ASU No. 2023-09 will have on its disclosures.

Recent accounting guidance not discussed herein is not applicable, did not have, or is not expected to have a material impact to the Company.

Reclassifications - The Company reclassified certain items in the accompanying consolidated financial statements for prior periods to be comparable with the classification for the current period, including, but not limited to: (i) finance lease liabilities presented within other liabilities that were formerly presented within long-term debt, (ii) the separate presentation of current operating lease liabilities on the face of the Consolidated Balance Sheets, (iii) amounts previously reported in Other (expense) income, net, on the face the Consolidated Statements of Operations and Comprehensive Income were combined with Interest expense, net and (iv) the combined presentation of the

Other comprehensive income impact of interest rate swaps on the face of the Consolidated Statements of Operations and Comprehensive Income. These reclassifications had no effect on previously reported net income.

Commitments and Contingencies (Royalty Termination) (Details) $ in Millions	Aug. 02, 2021 USD ($)
Other restaurant operating \| Carrabba's Italian Grill
Other Commitments [Line Items]
Cash paid to settle royalty agreement	$ 61.9

Allowance for Expected Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Credit Loss [Abstract]

Allowance for credit losses rollforward

The following table is a rollforward of the Company’s trade receivables allowance for expected credit losses for the periods indicated:


	FISCAL YEAR
(dollars in thousands)	2023		2022		2021
Allowance for expected credit losses, beginning of the period	$	5,451	$	4,050	$	4,095

Provision for expected credit losses	—		1,547		64
Charge-off of accounts	(147)		(146)		(109)


Allowance for expected credit losses, end of the period	$	5,304	$	5,451	$	4,050

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Basis of presentation

Basis of Presentation - The Company’s consolidated financial statements include the accounts and operations of Bloomin’ Brands and its subsidiaries.

Principles of consolidation

Principles of Consolidation - All intercompany accounts and transactions have been eliminated in consolidation.

Fiscal year

Use of estimates

Cash and cash equivalents

of December 31, 2023 and December 25, 2022, respectively, for amounts in transit from credit card companies since settlement is reasonably assured.

Restricted cash

Restricted Cash - From time to time, the Company may have short-term restricted cash balances consisting of amounts pledged for settlement of deferred compensation plan obligations.

Concentration of credit risk

Concentration of counterparty risk

Allowance for expected credit losses

In instances where there is no established loss history, S&P speculative-grade default rates are utilized as an estimated expected credit loss rate.

Off-balance-sheet credit exposure

Fair value


Level 1			Unadjusted quoted market prices in active markets for identical assets or liabilities
Level 2			Observable inputs available at measurement date other than quoted prices included in Level 1
Level 3			Unobservable inputs that cannot be corroborated by observable market data

Inventories

Inventories - Inventories consist of food and beverages and are stated at the lower of cost (first-in, first-out) or net realizable value.

Property, fixtures and equipment


Buildings (1)			5 to 30 years
Furniture and fixtures			5 to 7 years
Equipment			2 to 7 years

Computer equipment and software			2 to 7 years

____________________

(1)Includes improvements to leased properties which are depreciated over the shorter of their useful life or the reasonably certain lease term, including renewal periods that are reasonably certain.

Goodwill and intangible assets

Derivatives

Deferred debt issuance costs

Consideration received from vendors

Impairment of long-lived assets and costs associated with exit activities

Advertising costs

Legal costs

Research and development expenses

Partner compensation

Stock-based compensation

Basic and diluted earnings per share

Foreign currency translation and transactions

Income taxes

Recently adopted financial accounting standards


ADJUSTMENT	CONSOLIDATED BALANCE SHEET CLASSIFICATION	AMOUNT (dollars in millions)
Deferred tax impact of cumulative-effect adjustment	Deferred income tax assets, net	$	14.9
Debt discount reclassification	Long-term debt, net	$	59.9
Equity issuance costs reclassification	Long-term debt, net	$	(2.1)
Debt discount amortization reclassification, net of tax	Accumulated deficit	$	4.4
Reversal of separated equity component, net of tax	Additional paid-in capital	$	(47.3)

After adopting ASU No. 2020-06, the 2025 Notes are reflected entirely as a liability since the embedded conversion feature is no longer separately presented within stockholders’ equity.

Recent accounting guidance not discussed herein is not applicable, did not have, or is not expected to have a material impact to the Company.

Reclassifications

Commitments and Contingencies (Insurance, Future Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
2024	$ 19,689
2025	11,105
2026	7,546
2027	4,154
2028	2,285
Thereafter	7,715
Total	$ 52,494	$ 55,364

Summary of Significant Accounting Policies (Cash and Cash Equivalents) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 25, 2022
Cash and cash equivalents
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents, amounts in transit from credit card companies	$ 56.2	$ 41.5

Stockholders' Equity (OCI - Table) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 25, 2022

Dec. 26, 2021

Accumulated other comprehensive income [Line Items]

Other comprehensive income attributable to Bloomin' Brands

$ 7,007

$ 5,457

Bloomin' Brands

Accumulated other comprehensive income [Line Items]

Foreign currency translation adjustment

7,622

$ 10,169

(6,597)

Change in fair value of derivatives, net of tax

(606)

573

Reclassification realized in Net income, net of tax

^[1]

(9)

954

7,392

Impact of terminated interest rate swaps included in Net income, net of tax

8,982

4,576

(Loss) gain on derivatives, net of tax

(615)

10,509

12,054

Other comprehensive income attributable to Bloomin' Brands

$ 7,007

$ 20,678

$ 5,457

[1]	See Note 16 - Derivative Instruments and Hedging Activities for the tax impact of reclassifications and the terminated swaps.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
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-Paragraph 1B
-Subparagraph (b)
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

Stock-based and Deferred Compensation Plans (Stock Options - Text) (Details) - Stock options	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period	10 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Segment Reporting (Capital Expenditures by Segment - Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures	$ 324,255	$ 219,691	$ 122,830
Consolidated entity, excluding consolidated VIE
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures	334,163	236,519	126,412
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures	11,961	11,709	9,035
U.S. segment \| Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures	276,660	196,163	103,303
International segment \| Operating segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures	$ 45,542	$ 28,647	$ 14,074

Accrued and Other Current Liabilities

12 Months Ended

Dec. 31, 2023

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following as of the periods indicated:


(dollars in thousands)	DECEMBER 31, 2023		DECEMBER 25, 2022

Accrued payroll and other compensation	$	98,903	$	84,075
Accrued insurance	19,310		20,932
Other current liabilities (1)	137,601		112,420
	$	255,814	$	217,427

________________

(1)During 2023, other current liabilities increased primarily due to increased accrued advertising expense.

Leases (Future Minimum Lease Payments and Sublease Revenues) (Details)
$ in Thousands

Dec. 31, 2023

USD ($)

Leases [Abstract]

Operating lease, 2024

$ 182,732

^[1]

Operating lease, 2025

185,309

Operating lease, 2026

183,345

Operating lease, 2027

174,157

Operating lease, 2028

166,173

Operating lease, thereafter

1,397,122

Operating lease, total minimum lease payments

2,288,838

^[2]

Operating lease, interest

(981,757)

Operating lease liabilities

1,307,081

3,311

1,859

1,392

1,275

697

Finance lease, thereafter

7,393

Finance lease, total minimum lease payments

15,927

Finance Lease, Liability, Undiscounted Excess Amount

(5,316)

Finance lease liabilities

10,611

Sublease revenues, 2024

(5,893)

Sublease revenues, 2025

(5,421)

Sublease revenues, 2026

(5,356)

Sublease revenues, 2027

(5,362)

Sublease revenues, 2028

(5,416)

Sublease revenues, thereafter

(33,888)

Sublease revenues, total minimum lease receipts

(61,336)

Prepaid rent

15,200

Lessee, operating lease, option to extend amount

945,400

Lessee, operating lease, lease not yet commenced, unrecorded liability

$ 216,700

[1]	Net of operating lease prepaid rent of $15.2 million.
[2]	Includes $945.4 million related to operating lease renewal options that are reasonably certain of exercise and excludes $216.7 million of signed operating leases that have not yet commenced.

Segment Reporting (Long-lived Assets by Geographic Area) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 25, 2022
Segment reporting information [Line Items]
Long-lived assets	$ 1,117,109	$ 996,289
U.S. \| U.S. segment
Segment reporting information [Line Items]
Long-lived assets	980,731	891,379
Brazil \| International segment
Segment reporting information [Line Items]
Long-lived assets	128,854	93,972
Other - International \| International segment
Segment reporting information [Line Items]
Long-lived assets	$ 7,524	$ 10,938

Stockholders' Equity (Dividends) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Feb. 29, 2024	Dec. 31, 2023	Sep. 24, 2023	Jun. 25, 2023	Mar. 26, 2023	Dec. 25, 2022	Sep. 25, 2022	Jun. 26, 2022	Mar. 27, 2022	Dec. 31, 2023	Dec. 25, 2022	Dec. 26, 2021
Dividends Payable [Line Items]
Common stock, dividends per share		$ 0.24	$ 0.24	$ 0.24	$ 0.24	$ 0.14	$ 0.14	$ 0.14	$ 0.14	$ 0.96	$ 0.56
Dividends, common stock, cash		$ 20,837	$ 20,901	$ 20,990	$ 21,014	$ 12,284	$ 12,475	$ 12,418	$ 12,559	$ 83,742	$ 49,736
Cash dividends declared per common share										$ 0.96	$ 0.56	$ 0
Subsequent event
Dividends Payable [Line Items]
Cash dividends declared per common share	$ 0.24
Dividends payable, date to be paid	Mar. 20, 2024
Dividends payable, date of record	Mar. 06, 2024

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false